Hasbro scoops up Peppa Pig owner for $4 billion

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A girl looks at a billboard of Peppa Pig at a toy store in Beijing on January 25, 2019.

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(CNN) — Hasbro is buying the company that owns popular children’s cartoon Peppa Pig, expanding its push into entertainment with a bet on preschoolers.

The US toymaker said Thursday that it has agreed to buy eOne for $4 billion. The entertainment company, which trades on the London Stock Exchange, also owns the animated brands PJ Masks and Ricky Zoom.

The deal will combine those titles with Hasbro’s popular brands, including My Little Pony, Transformers, Play-Doh, Monopoly and Power Rangers.

“Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally,” Hasbro CEO Brian Goldner said in a statement.

The deal, which is still subject to some regulatory approvals, is expected to close by the end of this year. Top eOne executives will join the Hasbro team, the companies said, without naming the executives.

Hasbro has sought to recover from the closure of Toys “R” Us, a major partner by striking creative new deals.

That includes a partnership with Netflix, which said in June it would make an animated series based on Hasbro’s “Magic: The Gathering” trading card game.

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