Canadian Plastics

Spin Master to buy pool toy maker Swimways Corp.

With this acquisition, Toronto-based Spin Master is expanding into the outdoor plastic toy category.

August 3, 2016   Canadian Plastics

In a bid to grow its business in the outdoor toy market, Canadian toy maker Spin Master Ltd. is buying U.S.-based pool toy maker Swimways Corp. for US$85 million in cash.

“Spin Master is committed to growth through diversification, innovation, expanding our global presence and making strategic acquisitions,” said Ben Gadbois, the Toronto-based company’s president and COO. “With the Swimways acquisition, we can do all of these.”

Gadbois added that Spin Master is “well-equipped” to build out Swimways’ sales through its international network.

The Swimways headquarters would remain in Virginia Beach, Va. It also has a manufacturing and distribution facility in North Carolina, an office in China, and a total of 149 employees. It makes a variety of pool toys including squirt guns, flotation devices, and pool decor.

Earlier this year, Spin Master bought the famous Etch A Sketch and Doodle Sketch brands from The Ohio Art Company.


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