Subjects: SHAREHOLDER RIGHTS PLANS, MISCELLANEOUS, MISCELLANEOUS, Restructuring / Recapitalization
MGA Entertainment Establishes Four Subsidiaries to Support its Fast Growing International Business in the European Union
LOS ANGELES, Feb. 01, 2024 (GLOBE NEWSWIRE) -- MGA Entertainment, Inc. (MGA), one of the largest and fastest growing privately held toy and entertainment companies in the world, announced today it has established four wholly-owned subsidiaries in the European Union (EU) to support its fast growing international business. The four subsidiaries ? MGA Toys Iberia S.L. (led by Managing Director Mila Gonzalez), MGA Entertainment Greece (led by Managing Director Panos Kalogeropoulos), MGA Entertainment Italy SRL (led by Managing Director Andrea Signorelli), and MGA Toys France (led by Managing Director Thierry Thivolle) ? will support marketing and sales administration efforts, staffed by employees who have worked for MGA Entertainment in each of the markets, now employees of their respective subsidiary in the same roles. This move demonstrates the company's commitment to growing its businesses in those markets and to its international business overall.
"Our business outside of the U.S is strong and increasingly important to MGA Entertainment. Establishing these new subsidiaries will allow us to grow our business more quickly in these important markets," said MGA Entertainment Founder & CEO Isaac Larian. "I look forward to working closely with the teams in each of these markets to continue to bring new, innovative, and fun MGA toys and products to consumers across the EU."
MGA previously announced its plans to merge with Zapf Creation AG, Europe's leading manufacturer of nurturing dolls. MGA's wholly-owned German subsidiary has entered into negotiations of a merger agreement which is expected to close in late Spring 2024.
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About MGA, Entertainment, Inc.
MGA Entertainment?is one of the largest and fastest growing privately held toy and entertainment companies in the world. Headquartered in Los Angeles with offices globally, the company creates innovative, proprietary, and licensed consumer products and entertainment properties, including toys, games, dolls, apparel, consumer electronics, home décor, stationery, sporting goods, movies, and television series. The MGA family includes award-winning brands such as L.O.L. Surprise!tm, Little Tikes®, Rainbow Hightm, Bratz®, MGA's Miniversetm, Fluffie Stuffieztm, Na! Na! Na! Surprisetm, Micro Games of Americatm, BABY born®, and Zapf Creation®. For more information, please visit us at?www.mgae.com?or check us out at?LinkedIn, Threads, Instagram and Facebook.
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