KV Toys to acquire 50 pc stake in educational toy brand Play Panda

New Delhi, Jun 16 (PTI) Toy manufacturer KV Toys India Ltd on Tuesday said it has entered into a binding agreement to acquire a 50 per cent stake in educational and STEM toys maker Play Panda Pvt Ltd for up to Rs 4.5 crore.

Once completed, it will strengthen KV Toys’ presence in the rapidly growing educational and STEM (Science, Technology, Engineering, and Mathematics) toys segment, said a joint statement.

KV Toys aims to leverage Play Panda’s product innovation capabilities and portfolio of learning-focused toys, it added.

Commenting on the development, KV Toys India Director Karan Narang said, “The toy market in India is changing. More parents now want toys that combine learning with play. Educational and STEM toys are growing fast because families

care about overall child development.” Play Panda, which focuses on STEM-based learning products focused on developing creativity, problem-solving and critical thinking skills among children, sells through channels such as Hamleys, Amazon and other retail outlets.

KV Toys manufactures and markets toys under its flagship brand QUCO and has an extensive retail presence in the domestic market. PTI KRH SHM