The Goliath Group has made a strategic investment in Wellington-based toy distributor Elephanta.
This will combine the strength of Elephanta's knowledge of the local New Zealand toy market with Goliath's international resources, efficiencies, and product development.
“We are delighted to welcome Sunil and his team to the Goliath family,” said Adi Golad, founder of Goliath.
"They are an excellent fit for us, with many similar products already distributed by us elsewhere in the world.
"With our recent successes in Australia it made perfect sense to take this step."
Elephanta founder Sunil Dahya said he had long admired Goliath's successful product approach and business strategy.
"We're excited to be bringing that powerful global strength and focus to Elephanta and the New Zealand market, and we're anticipating very strong growth as a direct result of this."
Elephanta will continue to operate with its existing staff and premises.
Andrew Lee, the current general manager for Goliath and Crown & Andrews in Australia, has been appointed as general manager for both Australia and New Zealand, while Sunil Dahya will stay on as chairman of Elephanta.