Mattel Inc. has held talks with private-equity firms about a potential sale, people familiar with the matter said, just a few months after the famed toy company declared its corporate turnaround complete.
has held informal talks with firms including Apollo Global Management Inc.
and L Catterton, the people said. The talks are at an early stage and may not result in a deal.
If there is one, it would be sizable. Mattel had a market capitalization of about $8 billion as of the close of the market Tuesday. It would add to a recent string of big leveraged buyouts, as private-equity firms look to spend a mountain of cash they have accumulated.
Chief Executive Ynon Kreiz said in February that Mattel had completed its turnaround and was “now in growth mode.” Mattel reported a sales jump of 19% in 2021 and said profits rose. Yet its shares have barely budged over the past year and have done little in the past two decades.
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