The logo of US toy company Mattel is seen at the 72nd toy fair (Spielwarenmesse) in Nuremberg, southern Germany, on February 2, 2023.
L Catterton, the private equity firm backed by luxury goods giant LVMH, has approached Mattel , the toy maker behind Barbie and Hot Wheels, with an acquisition offer, people familiar with the matter said on Monday.
Hasbro also declined to comment, while L Catterton did not respond to a request for comment.
Mattel shares jumped 20% to $19.49 following the Reuters report of the approach, giving the toy maker a market value of $6.5 billion.
L Catterton, which has $34 billion in assets under management, has made more than 250 investments in consumer brands since its launch in 1989, according to its website.
Persons:
Barbie, Catterton, El, Price, L, Bernard Arnault
Organizations:
Mattel, Hasbro, Capital, Fisher, American Girl, LVMH
Locations:
Nuremberg, Germany, El Segundo , California, American