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The Bridge Direct and Tech 4 Kids Purchase the Assets of Uncle Milton • May 17, 2017
The Bridge Direct and Tech 4 Kids unveiled at this year's New York Toy Fair on February 17, their intent to combine the companies in order to build a dynamic enterprise of substantial scale over the coming years. This acquisition is the first of many as part of an accelerated roll-up strategy the company is executing.
"This acquisition is in line with our strategy to offer smaller industry players an opportunity to de-risk, scale up and grow, as part of our larger platform which will position us among the top tier of toy manufacturers in North America," says Jay Foreman, CEO of The Bridge Direct Inc.
The company will take over the Uncle Milton name, brands and product related intellectual property, as well as all other assets from the "Assignee Company" administering the transaction, following the filing of an ABC by the Parent Company.
"Uncle Milton's portfolio of STEM and licensed products is an excellent addition to the breadth of product lines we currently offer, positioning us to deliver even more value to retailers," says Brad Pedersen, President and CEO of Tech 4 Kids Inc.
The company has been able to retain a significant number of key staff members and senior leaders, while continuing to operate Uncle Milton from its LA office. The line-up of products will include well-known brands like The Original Ant Farm, Star Wars Science, In My Room and Ever Wonder.