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Toy State: Nikko Purchase Finalized

Transition complete as acquisition of R/C company successfully closes

NORWOOD, MA (August 27, 2014) – Toy State, a 30-year toy industry leader and innovator, announced today that its acquisition of Nikko Toys Ltd. and Nikko Entertainment BV, global leaders in the radio-controlled (R/C) toy category, has been successfully completed.

“We are extremely excited to have finished the acquisition of Nikko,” said Simon Cheng, Toy State’s CEO and founder. “This sale has energized both the Toy State and Nikko teams, and we are eager to build on Nikko’s already strong lineup of R/C toys.”

As a result of the acquisition, Toy State has expanded its global offices to include locations in Breda (Netherlands) and Japan, as well as a more extensive corporate headquarters in Hong Kong. The company’s US headquarters remains in Boston.

Founded in 1958, Nikko manufactures a robust portfolio of high-quality R/C toys, including lines built through licensing partnerships with leading automakers and global brands including Transformers™, Hello Kitty®, Fast & Furious™ and Angry Birds™.

Terms of the transaction between the two privately-held companies were not disclosed.

About Toy State:
For 30 years, Toy State has been an innovator and industry leader in the manufacture of licensed and highly stylized lights & sound and radio controlled vehicles. Founded in 1984, Toy State’s core portfolio includes Road Rippers®, Nikko, Hot Wheels® and James Bond 007™ lights & sound and radio controlled vehicles, as well as Cat® and Cat® Preschool construction toys. Working with the world’s leading automakers, and Caterpillar, the leading manufacturer of construction equipment, Toy State products provide hours of enjoyment for kids of all ages. For more information, visit www.toystate.com.

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