Berkshire Hathaway’s toy company Jazwares has acquired toy distributor Big Balloon, as part of its global expansion plans.
The acquisition of Big Balloon, a key player in the Australian toy industry for more than 12 years, is an investment in the future global growth of Jazwares, said Judd Zebersky, founder and CEO of Jazwares.
“Jazwares Australia will have a major impact on the toy industry in the long-term, with the team’s laser focus on Jazwares’ brands and business, adding value to all retail partners and consumers,” Zebersky added.
Big Balloon co-founder Chris Loverso will serve as MD of Jazwares Australia, and his team will also join the Jazwares family.
“As team members, not just partners, we will be able to add our extensive experience and expertise in the Australian marketplace to add value and continue to grow the market-leading Jazwares brands and the long-serving partners we proudly represent in Australia,” said Loverso.
Founded in 1997, Jazwares offers product lines including action figures, plush toys, collectibles, role-playing accessories and musical instruments. The Florida-based company has offices worldwide and sells its products in over 100 countries.