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BRIEF-Spin Master buys Swimways Corp

Published 2016-08-02, 07:56 a/m
© Reuters.  BRIEF-Spin Master buys Swimways Corp
TOY
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Aug 2 (Reuters) - Spin Master Corp TOY.TO :

* Purchase price includes up to US$8.5 million payable over 4 years based on Swimways' sales growth

* Spin Master Corp says transaction was financed through spin master's existing credit facility

* Purchase price for transaction will be satisfied by US$85 million in cash on closing, less an escrow for possible adjustments

* Spin master corp says purchase price for transaction will be satisfied by US$85 million in cash on closing

* Spin Master Corp says Swimways will operate as a stand -alone subsidiary within Spin Master group

* Announces acquisition of Swimways Corporation and establishment of outdoor business segment Source text for Eikon: ID:nCNWt60DHa Further company coverage: TOY.TO

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