Toy company Spin Master Corp. has expanded its outdoor product line by acquiring the flying disc assets of Aerobie Inc. for undisclosed terms.
The flying disc developed by Aerobie set a new Guiness World Record for such thrown objects in 2003, when Scott Zimmerman flung the unaided disc for 1,333 feet at Fort Funston near San Francisco.
Spin Master, based in Toronto, said the acquired business will be managed by its Swimways unit, which it acquired a year ago. Swimways makes a broad line of toys and sporting goods for the swimming pool, beach and backyard.
Spin Master bought flying disc molds, goodwill and related assets in the July 28 transaction.
Aerobie is keeping another of its famous products, the AeroPress coffee maker, and related lines of coffee filters, confirmed Aerobie general manager Alex Tennant in a phone interview.
Aerobie had been using a contract injection molder in California to make its flying discs, Tennant explained. Spin Master did not specify if it would continue with that arrangement and officials declined to be interviewed for more details about the deal.
“Acquistions such as (certain assets of Aerobie) are a key part of our overall growth strategy,” stated Spin Master President and Chief Operating Officer Ben Gadbois in a news release.
“We will further innovate the Aerobie line using our global research and development network, and leverage Spin Master's global sales and marketing infrastructure to grow sales internationally.”
The flying disc assets purchase was Spin Master's seventh acquisition since it went public in 2015. The flying discs will become part of Spin Master's Coop product line of branded, active outdoor lifestyle goods. Spin Master's other brands include Meccano, Zoomer and PAW Patrol.
Spin Master recorded sales of US$227.7 million for its first quarter of 2017. The 40.8 percent jump in sales vs. a year ago was partly due to its Swimways acquisition. Subtracting Swimways' results reduced the sales gain to 19.8 percent. Net profit was US$10.1 million, up 2 percent from a year earlier.
Aerobie of Palo Alto, Calif., was founded by engineer and inventor Alan Adler. His interest in aerodynamics led to his developing better flying toys. He launched Aerobie's predecessor company Superflight Inc. in 1984 to ensure high quality production of his flying discs. He changed the name of the business in 2005 to Aerobie, his well-known brand name of disks. Two years later he launched his AeroPress single-serve coffee maker.
