Canadian toymaker Spin Master Corp., known for owning popular brands such as Paw Patrol, Rubik’s Cube, and Etch A Sketch, has hired a new post-merger legal chief – Sachin Kanabar. This organizational change comes on the heels of the largest acquisition in Spin Master Corp’s history – a $950 million buy of renowned toymaker Melissa & Doug LLC. The deal was finalized last month.
Sachin Kanabar takes up the mantle from Christopher Harrs, the long-serving general counsel and corporate secretary at Spin Master Corp., who is stepping down from his roles after around two decades of service. Mr. Kanabar has been lauded for his impressive career trajectory, which includes a six-year stint as the top lawyer for Iovate Health Sciences International Inc., a renowned dietary supplements company.
The acquisition of Melissa & Doug, a Connecticut-based firm known for their low-tech toys that encourage screen-free playtime, strengthens an already expansive toy portfolio at Spin Master Corp. The new addition aligns with the company’s other engaging, hands-on toys like Air Hogs and Hatchimals, and iconic toys like Etch A Sketch and Rubik’s Cube.
It is worth noting that the legal periphery of the toy world isn’t out of conflicts. Spin Master’s US litigation caseload largely comprises trademark, patent, and copyright cases, and the company has faced off with toy manufacturing rivals such as Hasbro Inc. and Mattel Inc. in court. These legal battles will likely form a significant part of Mr. Kanabar’s duties as he begins his tenure at Spin Master Corp.
Despite the industry’s competitive landscape, Spin Master Corp. continues to hold its own against bigger players like Hasbro and Mattel. In 2020, it bought Rubik’s Brand Ltd., the company behind the famous cube, for $50 million, meeting the increased demand for engaging toys due to pandemic-induced lockdowns.
The arrival of Sachin Kanabar heralds a new era for Spin Master Corp., with his expertise expected to guide the company through its growing production-line, corporate challenges, and industry competition.
For further details, refer to the original Bloomberg Law report.