Australian toy business, Moose Toys, has announced its acquisition of UK toy business, Worlds Apart, as well as the popular Scruff-a-Luvs brand.
Worlds Apart is recognised for its work on popular properties such as Ready Beds, Kid Active and Scruff-a-Luvs.
Moose acquired the business to bolster its European expansion plans and grow its portfolio of properties.
CEO of Moose Toys, Paul Solomon, said that there are many similarities between the businesses and that he looks forward to working with the Worlds Apart team.
“There is a strong values alignment between both companies and synergies in how we design and create. We were impressed with their commitment to developing high quality products that kids love.
“With the initial success of Scruff-a-Luv’s globally, it is a great opportunity to expand their reach and further develop this much loved brand, while also increasing our presence in the UK.
“We are excited about the opportunity to work with fantastic, creative people who are passionate about bringing the 'wow' to all that they do, so we can deliver more magic Moose moments to children in the UK.”
CEO and partner of Worlds Apart, Neil Shinner, said that partnering with Moose will allow the Worlds Apart business to maximise its potential.
“We welcome the opportunity to work with such an accomplished and successful global team.
“We truly believe that joining with Moose will help realise all the fantastic new product opportunities that are being created, and also release the full potential of our talented team.”
The acquisition came into effect on 16 November, with Moose acquiring all of the Worlds Apart assets and brands. No jobs were made redundant in the process.