Hasbro has reached a deal to acquire Haim Saban’s flagship Saban’s Power Rangers property along with other entertainment brands including My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives in a cash-and-stock pact valued at $522 million. The toymaker previously paid Saban Brands $22.25 million pursuant to a Power Rangers’ master toy license agreement that was to begin in 2019; those amounts are being credited against the purchase price.
Saban Brands chief and Power Rangers creator Saban will serve in a consultant role going forward, and Hasbro said the first set of products will be available in spring 2019.
“Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” said Brian Goldner, Hasbro’s chairman and CEO, in announcing the deal. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint.”
Under terms of the purchase agreement, Hasbro will pay an additional $229.75 million in cash and will issue $270 million worth of Hasbro common stock for the acquired brands which includes all related intellectual property, category rights and content libraries owned by Saban Properties and its affiliates. The deal is expected to close during the second quarter.
Saban created and launched Mighty Morphin Power Rangers in 1993 and is now among TV’s longest-running kids’ live-action series with almost 900 episodes to date in several incarnations. On the film side, Lionsgate bowed the latest incarnation of Power Rangers in March 2017; it grossed $85.4 million domestic and $142.3M worldwide.
Saban’s Power Rangers, which follows the adventures of a group of ordinary teens who morph into superheroes and save the world from evil, currently airs in 150 worldwide markets.
“25 years after launching Power Rangers, I believe the future for this brand has never been greater,” said Saban in a press release announcing the deal. “Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property. I look forward to working with Brian and the team in the years to come.”
J.P. Morgan Securities LLC is serving as financial advisor to Hasbro.