Finance - That's One Expensive Pig
One day, Peppa and George were playing in the garden Suzy Sheep when an American man with a briefcase showed up and bought the family business for US$4 Billion.
US toymaker Hasbro is buying British Peppa Pig's parent company Entertainment One Ltd in a cash deal that will give it a huge presence in the lucrative infant and preschool market. Entertainment One shareholders will get AU$10 per share out of the deal.
"Hasbro will leverage Entertainment One immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally," read the joint statement from the firms.
Chief Executive Officer Brian Goldner added, "The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling."
The purchase is huge but falls in line with Hasbro's buying spree last year, during which it shelled out US$520 Million to add children's entertainment and merchandising franchises.
Peppa Pig is a family oriented childrens' show that is on TV and streamed across several platforms. It is particularly popular in China.