Mattel to Sell Sports Division to Wham-O
Mattel Inc. said it agreed to sell its Mattel Sports division to closely held Wham-O Inc. for an undisclosed price as the El Segundo-based company continues to focus on its core brands by shedding non-core businesses. Wham-O, a toy company formed to acquire and reinvigorate classic toy brands, is majority owned by closely held investment firm Charterhouse Group International Inc. Mattel said the brands acquired by San Francisco-based Wham-O include Aviva children’s sports toys; Churchill swim-fin products; Frisbee, Hacky Sack and Hula Hoop; Morey and Boogie aquatic bodyboard brands; Street Jam, Trac-Ball and Wham-O. “With this acquisition, Wham-O is now home to a strong stable of classic sports toy brands,” said Michael Cookson, president and chief executive of Wham-O. Mattel shares fell 19 cents to close at $41.19 on the New York Stock Exchange.