Business Wars Hasbro vs Mattel - The Shotgun Wedding | 5
Apr 3, 2019
A fierce rivalry unfolds as Hasbro's acquisition of Tonka gives it a significant lead over Mattel. Tensions rise when Mattel's CEO strategizes to reclaim the top spot with some clever acquisitions. The historical backdrop reveals a bitter competition, marked by legal skirmishes and dramatic merger attempts. The 1996 negotiations between the two toy titans highlight the stakes, revealing how corporate maneuvers can ignite passion among employees and fans alike. This saga of ambition and rivalry showcases the cutthroat nature of the toy industry.
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Hasbro Acquires Tonka
- Mattel CEO John Amerman was furious after Hasbro outbid Mattel for Tonka, the owner of valuable brands like Nerf and Monopoly.
- This acquisition put Hasbro $500 million ahead of Mattel in revenue.
Amerman's Vow
- Initially, Amerman underestimated Hasbro's CEO, Alan Hassenfeld, but after losing Tonka, he recognized Hassenfeld's business acumen.
- Amerman vowed to get revenge on Hasbro.
The End of the Doll Wars
- Hasbro and Mattel ended their three-year legal battle over the Cindy doll, Hasbro's Barbie lookalike.
- A new head for Cindy was chosen as part of the settlement.