Canadian toy maker Spin Master Ltd. is buying the famous Etch A Sketch and Doodle Sketch brands from The Ohio Art Company.
The financial terms of the deal have not been released.
“We are always open to exploring new relationships and part of our success is seeing potential that others might overlook,” said Ben Gadbois, president and COO of Toronto-based Spin Master. “Etch A Sketch and Doodle Sketch have a long and trusted history with consumers and we’re proud to add them to our portfolio.”
The Etch A Sketch was created by a French inventor, and the brand was produced or owned by Ohio Art since 1960, when it bought the rights for $25,000.
In a statement, Ohio Art’s president Martin Killgallon said the firm plans to focus more on metal lithography, the technology on which it was founded.
