Jakks Pacific Agrees to Buy Creative Designs
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From Bloomberg News
Jakks Pacific Inc., the Malibu-based maker of World Wrestling Entertainment Inc. action figures, said it had agreed to buy Creative Designs International Ltd., a Pennsylvania firm that makes girls’ dress-up tiaras and vanity tables, for $116.5 million.
Acquiring Creative Designs International would provide Jakks with licenses to make dress-up accessories based on Walt Disney Co. characters, Chief Operating Officer Stephen Berman said.
Shares of Jakks Pacific surged 75 cents to $20.98.
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