“What excites us so much about Melissa & Doug is the power of their brand, their deep knowledge in developmental play and their passion for creativity, imagination and sustainability,” said Max Rangel, Spin Master’s Global President and CEO.
“Spin Master Ventures will establish us as the partner of choice for entrepreneurs looking for capital to start and grow a business in the kids’ space,” said Ronnen Harary, Spin Master’s Co-Founder and Board Chair.
Spin Master’s Co-Founders and current Co-CEOs, Ronnen Harary and Anton Rabie, will work closely with Rangel over the next several months to ensure a seamless transition, following which they will continue their leadership of the strategic path for Spin Master in their roles on the Board.
“We launched one of our strongest Fall lines ever, with many of our toys making retailers’ top toy lists and in the quarter we grew both Gross Product Sales and Revenue while managing through the uncertain conditions arising from COVID-19,” said Ronnen Harary, Spin Master’s Co-CEO.
“Q1 2020 was a challenging quarter for Spin Master, as we dealt with both the evolving COVID-19 situation and the carryover effects from the operational challenges we experienced in the second half of 2019,” said Ronnen Harary, Spin Master’s Co-Chief Executive Officer.