NEW YORK, May 29, 2018 /PRNewswire/ -- Alleghany Capital
Corporation ("Alleghany Capital"), a wholly-owned subsidiary of
Alleghany Corporation, today announced that its subsidiary,
Jazwares, LLC ("Jazwares"), a global toy, entertainment, and
musical instrument company, has acquired the Russ Berrie™ and
Applause™ brands. The Russ Berrie™ brand originated in 1963
and has historically included a variety of gift items, such as
stuffed animals, mugs, picture frames, figurines, greeting cards,
and stationery. The Applause™ brand has included stuffed
toys and collectible figurines since 1966. These well-known brands
were acquired from Larsen & Bowman Holdings Ltd. and Maple
Licensing Ltd. through Jazwares' affiliate, Zag Toys, LLC ("Zag
Toys"), a leader in the collectibles industry.
Judd Zebersky, Chief Executive
Officer and President of both Jazwares and Zag Toys, commented,
"Russ Berrie™ and Applause™ are leading brands in their respective
markets and we are thrilled to add them to the Jazwares and Zag
Toys portfolio. We look forward to leveraging the great
history of these brands and growing their business through the
introduction of new products and the entrance into new territories
worldwide."
"We are excited to have Jazwares and Zag Toys expand on the
legacy of Russ Berrie™ and Applause™ while adding their unique
perspective, product development expertise, and global reach to
break new ground with these two beloved brands," stated
Stacy Larsen, President of Larsen
& Bowman Holdings Ltd.
David Van Geyzel, President and
Chief Executive Officer of Alleghany Capital, added, "The purchase
of Russ Berrie™ and Applause™ follows Jazwares' acquisition of Zag
Toys in February of this year and is a great example of the unique
opportunities arising from the Zag Toys transaction. We
believe that Jazwares, through Zag Toys, will provide a solid
long-term home for these well-known brands and are enthusiastic
about their growth potential as part of the Jazwares platform."
About Alleghany Capital Corporation
Alleghany Capital Corporation sources, executes, and oversees
certain investments and acquisitions for its parent company,
Alleghany Corporation (NYSE: Y). Alleghany Capital's
industrial investments include: (i) Bourn & Koch, Inc., a
manufacturer of precision machine tools and related parts, as well
as a producer of consumable components for the waterjet cutting and
surface preparation markets; (ii) R.C. Tway Company, LLC (dba
Kentucky Trailer), a manufacturer of custom trailers and truck
bodies for the moving and storage industry and other markets; (iii)
W&W|AFCO Steel, a fabricator and erector of structural steel
for commercial, manufacturing, and transportation infrastructure
projects; and (iv) Wilbert Funeral Services, a provider of products
and services for the funeral and cemetery industries and precast
concrete markets. Alleghany Capital's non-industrial
investments include: (i) IPS-Integrated Project Services, LLC, a
technical service provider focused on the global pharmaceutical and
biotechnology industries; and (ii) Jazwares, LLC, a global toy,
entertainment, and musical instrument company. For additional
information about Alleghany Capital Corporation, please visit
www.alleghanycc.com.
About Jazwares, LLC
Jazwares is a global leader in consumer products, including
toys, musical instruments and kid-friendly consumer
electronics. With over 20 years of design, development, and
manufacturing expertise, Jazwares is an award-winning
company with a progressive focus on identifying new trends and
transforming them into high value product for kids of all
ages. Jazwares is headquartered in Sunrise, FL, and its products can be found on
five continents and in over 85 countries. Jazwares' portfolio
includes properties such as Animal Jam™, Feisty Pets™, First
Act™, Hotel Transylvania™, Minecraft™, Molang™, Nerf ™,
Peppa Pig™, Roblox™ and many more. Jazwares' goal is
to invent toys and related products that are new to the
marketplace, featuring the brands kids want. Zag Toys
was recently added to Jazwares' family of companies and is a
leading consumer product and licensing company specializing in the
design, sourcing, and distribution of innovative collectibles based
on trending pop-culture and gaming brands. For more information
about Jazwares and Zag Toys, please visit their
websites at www.jazwares.com and
www.zagtoys.com.
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SOURCE Alleghany Capital Corporation