NEW YORK, Feb. 16, 2018 /PRNewswire/ -- Alleghany Capital Corporation ("Alleghany Capital"), a wholly-owned subsidiary of Alleghany Corporation, today announced that its subsidiary, Jazwares, LLC ("Jazwares"), a leading toy and consumer products company, has acquired a majority interest in Zag Toys, a division of Zacks Enterprises, Inc. (dba Zagwear). Zag Toys is a leader in the collectibles business, specializing in the licensing, design, and sourcing of innovative and on-trend products and toys.
Judd Zebersky, Chief Executive Officer and President of Jazwares, commented, "Driven by the creativity of its principals, Judd Karofsky and Stacy Larsen, Zag Toys has built an impressive reputation in the industry for transforming some of the hottest pop culture and gaming brands into collectible toy lines. We are excited to partner with Zag Toys and believe our two companies share deep-rooted principles focused on creating quality products that speak to fans of all ages. Together, we will be able to further expand the 360 degree toy experience."
"We are thrilled to join Jazwares and leverage its unique perspective, product development expertise, and global reach to break new ground in the consumer products industry," stated Judd Karofsky, President of Zagwear. "Our two companies share dynamic and creative cultures and we are enthusiastic about what we can create together."
David Van Geyzel, President and Chief Executive Officer of Alleghany Capital, added, "The Zag Toys transaction is the second acquisition by Jazwares since Alleghany Capital's investment in the company and is consistent with our strategy of supplementing organic growth with select acquisitions. We look forward to collaborating with management at Jazwares and Zag Toys as they continue to innovate in the toy and collectibles markets."
About Alleghany Capital Corporation
Alleghany Capital Corporation sources, executes, and oversees certain investments and acquisitions for its parent company, Alleghany Corporation (NYSE: Y). Alleghany Capital's investments include: (i) Bourn & Koch, Inc., a manufacturer and remanufacturer of precision machine tools as well as a supplier of replacement parts and related services; (ii) IPS-Integrated Project Services, LLC, a technical service provider focused on the global pharmaceutical and biotechnology industries; (iii) Jazwares, LLC, a global toy, entertainment, and musical instrument company; (iv) R.C. Tway Company, LLC (dba Kentucky Trailer), a manufacturer of custom trailers and truck bodies for the moving and storage industry and other markets; (v) Stranded Oil Resources Corporation, an exploration and production company focused on enhanced oil recovery; (vi) W&W|AFCO Steel, a fabricator and erector of structural steel for commercial, manufacturing and transportation infrastructure projects; and (vii) Wilbert Funeral Services, a provider of products and services for the funeral and cemetery industries and precast concrete markets. For additional information about Alleghany Capital Corporation, please visit www.alleghanycc.com.
About Jazwares, LLC
Jazwares is a global leader in consumer products, including toys, musical instruments and kid-friendly consumer electronics. With over 20 years of design, development, and manufacturing expertise, Jazwares is an award-winning company with a progressive focus on identifying new trends and transforming them into high value product for kids of all ages. Jazwares is headquartered in Sunrise, FL, and its products can be found on five continents and in over 85 countries. Jazwares' portfolio includes properties such as Hotel Transylvania™, Minecraft™, Peppa Pig™, Roblox™, First Act™, Animal Jam™, Molang™ and many more. Jazwares' goal is to invent toys and related products that are new to the marketplace, featuring the brands kids want at affordable prices. For more information about Jazwares, please visit www.jazwares.com.
About Zag Toys
Zag Toys is a leading consumer product and licensing company specializing in the design, sourcing and distribution of innovative collectibles based on trending pop-culture and gaming brands. Headquartered in Orangeburg, NY, Zag Toys produces vinyl and mini action figures, plush and other collectibles for top retail channels. Zag Toys is a division of Zagwear, a global leader in product-based marketing with turnkey sourcing and supply chain capabilities. With a broad portfolio of the hottest licenses and world-class in-house brands, Zag Toys connects consumers with collectible products as a leader in the $15 billion licensed collectible products business. Connect with Zag Toys on Facebook, or follow it on Twitter & Instagram @ZagToys for all the latest news and announcements.
SOURCE Alleghany Corporation