Last Updated on January 3, 2020 by Danielle
Hasbro has struck a deal to purchase the Power Rangers brand along with other toy brands for $522 million with the deal expected to close by the end of the second quarter.
The Mighty Morphin Power Rangers brand will be joining forces with Hasbro’s Transformers, G.I. Joe, Nerf, Monopoly, and My Little Pony among its portfolio of brands. This comes in the wake of Hasbro’s announcement that it has struck a cash and stock deal worth $522 million for the Power Rangers brand along with other toy brands.
In February, Saban Brands had officially announced Hasbro as its choice to hold the master toy license after Bandai and Saban ended their 25-year relationship. So now the $22.3 million Hasbro originally paid for the licensing agreement will be credited toward the acquisition.
Originally devised by Haim Saban, the founder of Saban Brands, the Mighty Morphin Power Rangers is a TV series with teenagers who can transform into superheroes known as the Power Rangers.
In addition to the Power Rangers, Hasbro’s acquisition deal also includes My Pet Monster, Popples, Julius Jr., Luna Petunia, Treehouse Detectives among others. Expect the first wave of Power Rangers products to make their debut in spring 2019 with the deal expected to be closed by the end of the second quarter. So after the deal closes, Hasbro will officially become the new owner of the Power Rangers.
Source: Associated Press