Jakks Pacific Agrees to Buy Creative Designs

Jakks Pacific Inc., the Malibu-based maker of World Wrestling Entertainment Inc. action figures, said it had agreed to buy Creative Designs International Ltd., a Pennsylvania firm that makes girls’ dress-up tiaras and vanity tables, for $116.5 million.

Acquiring Creative Designs International would provide Jakks with licenses to make dress-up accessories based on Walt Disney Co. characters, Chief Operating Officer Stephen Berman said.

Shares of Jakks Pacific surged 75 cents to $20.98.