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Exclusive-Buyout firm L Catterton approaches Mattel with acquisition offer, sources say
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Exclusive-Buyout firm L Catterton approaches Mattel with acquisition offer, sources say
Jul 22, 2024 9:03 AM

(Reuters) - L Catterton, the private equity firm backed by luxury goods giant LVMH, has approached U.S. toy maker Mattel ( MAT ) with an acquisition offer, people familiar with the matter said on Monday.

The move could prompt other potential suitors to consider bids for Mattel ( MAT ), including rival Hasbro ( HAS ), which has become aware of L Catterton's approach and is discussing whether it should also submit an offer, one of the sources said. Hasbro ( HAS ) and Mattel ( MAT ) have held unsuccessful merger talks over the years.

The sources cautioned that there is no certainty L Catterton's approach will push Mattel ( MAT ) into exploring a sale and asked not to be identified because the matter is confidential.

Mattel ( MAT ), L Catterton and Hasbro ( HAS ) did not immediately respond to requests for comment.

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