Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced that its subsidiary, Jazwares, LLC (“Jazwares”), a leading toy and consumer products company, has acquired Wicked Cool Toys Holdings, LLC (“WCT” or the “Company”).
Headquartered in Bristol, Pennsylvania, WCT is a rapidly growing toy company that designs, develops, and produces licensed and owned properties, including plush, action figures, fashion accessories, and games.
Judd Zebersky, Chief Executive Officer and President of Jazwares, commented, “Led by Michael Rinzler, Jeremy Padawer, and Thomas Poon, WCT has built an impressive reputation in the industry for spotting on-trend licenses, reinvigorating nostalgic brands, and collaborating with inventors to develop new products. We are thrilled to partner with WCT and its talented employees, leveraging the Company’s offices in Pennsylvania, California, and Hong Kong. WCT will operate as a division of Jazwares and day-to-day operations will not be impacted by this transaction.”
Michael Rinzler, Co-President and Founding Partner of WCT, stated, “We are excited to join Jazwares and the Alleghany Capital family of companies. Jazwares is a perfect strategic and cultural fit for WCT, driven by the vision and leadership of Judd and Laura Zebersky. In addition, we believe that Alleghany Capital’s long-term investment horizon and strategy of supporting entrepreneurial companies such as Jazwares and WCT will accelerate our combined growth potential.” Jeremy Padawer, Co-President and Partner of WCT, added, “Jazwares’ product development expertise, global reach, and extreme passion for play will allow us to break new ground together in the toy industry and beyond.”
David Van Geyzel, President and Chief Executive Officer of Alleghany Capital, added, “The WCT transaction is the fourth acquisition by Jazwares since Alleghany Capital’s original investment in the company in 2013 and is consistent with Jazwares’ strategy of supplementing organic growth with strategic acquisitions. We look forward to supporting Jazwares and WCT as they pursue numerous opportunities within the global toy market.”
Ballard Spahr LLP acted as legal counsel to Jazwares. Baird advised WCT on the transaction and Eckert Seamans Cherin & Mellott, LLC acted as legal counsel to WCT.
Brian Isaacs - Executive Editor / Publisher