Business Wars Encore: Hasbro vs Mattel | The Shotgun Wedding | 5
Jan 4, 2021
Mattel faces a tough battle as Hasbro's acquisition of Tonka leaves it trailing behind in the toy market. CEO John Amerman feels the pressure and plots a comeback, eyeing strategic acquisitions to regain dominance. Tensions flare in their rivalry, with a whirlwind of corporate maneuvers and bold bids, especially for Fisher-Price. As the battle intensifies, the stakes for toy supremacy rise, leading to dramatic negotiations filled with personal rivalries.
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Mattel Loses Tonka
- In 1991, Mattel CEO John Ammerman lost a bidding war for Tonka to Hasbro.
- This loss cost Mattel key brands like Nerf, Play-Doh, and Monopoly.
Underestimating Hassenfeld
- Ammerman underestimated Hasbro's CEO, Alan Hassenfeld, initially dismissing him due to his appearance.
- He realized his mistake after Hassenfeld's strategic win.
The War of the Dolls Ends
- In 1992, Mattel and Hasbro settled their legal battles over the Barbie look-alike, Cindy.
- Hasbro agreed to change Cindy's head, ending the "war of the dolls."