Mattel attracts takeover interest from Authentic Brands Group, source says
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The takeover could value Barbie maker Mattel at around US$6 billion (S$7.7 billion) or more.
PHOTO: REUTERS
LOS ANGELES – Mattel has been approached by Authentic Brands Group for a takeover that could value the Barbie maker at around US$6 billion (S$7.7 billion) or more, a source familiar with the matter told Reuters on Oct 1.
Authentic Brands was discussing a more than US$20 a share takeover interest, according to the source.
Shares of Mattel, which has a market capitalisation of about US$3.62 billion, closed up about 18% at US$15.04 following the news, which was first reported by the Wall Street Journal earlier in the day.
There is no guarantee that Mattel will be open to Authentic Brands’ offer, and there is no formal sale process ongoing for the company, the source said.
Mattel declined to comment, while Authentic Brands did not immediately respond to a Reuters request.
Mattel shares closed down about 4% on Oct 1, after the company said its top boss Ynon Kreiz would leave to take on the role of co-chief executive at Paramount Skydance and run its combined business with Warner Bros.
At Mattel, Kreiz will be succeeded by Roger Lynch, the former CEO of the New Yorker-owner Conde Nast, on or before November 2026.
Lynch’s transition, according to the WSJ report, could complicate any deal for Mattel as he works on his strategy.
Consumer goods companies and retailers are battling weak spending as households face higher fuel costs and interest rates in the US.
In 2026, Mattel has struggled with tariff-related costs, even as it continued its push to build an entertainment portfolio around its brands, following the success of the 2023 Barbie movie.
Its shares have dropped 33% so far in 2026.
In May, Mattel investor Southeastern Asset Management called on Kreiz to explore options for the company, including going private, or being acquired by rival Hasbro or a large media company that would value Mattel’s intellectual property assets better than the public market.
Authentic Brands bought Dockers from Levi Strauss earlier in 2026, adding to its portfolio that includes Guess and Van Heusen.
The company licences intellectual property of its brands to partners, and has been focusing its mergers and acquisition strategy to include children’s entertainment brands and hospitality. REUTERS