(BRK.A), (BRK.B)
Berkshire Hathaway’s Jazwares, a prominent global toy company, has expanded its reach by acquiring Big Balloon, Australia’s leading full-service toy distributor. With over 12 years of experience, Big Balloon has played a crucial role in the Australian toy industry, fostering both big and small brands through strategic partnerships with major and independent retailers.
Judd Zebersky, the Founder and CEO of Jazwares, emphasized the significance of the Australian market, a thriving $1.7 billion industry. The acquisition of Big Balloon is seen as a strategic investment in Jazwares’ future global growth, establishing a strong foothold in Australia. Zebersky praised Chris Loverso, Co-Founder of Big Balloon, as an excellent manager and welcomed him and his team to the Jazwares family.
Jazwares Australia is poised to make a lasting impact on the toy industry, focusing on the company’s brands and business. According to Zebersky, the team’s dedicated approach will bring value to retail partners and consumers alike. Arthur Ferreira, Senior Vice President of International Sales and Marketing, highlighted the eight-year collaboration between Jazwares and Big Balloon, expressing the intention to strengthen local relationships with global licensing partners and enhance connections with end consumers.
Chris Loverso, who will now serve as Managing Director of Jazwares Australia, emphasized the natural evolution of the partnership, citing shared cultural alignment and a mutual passion for brands. Loverso sees the collaboration as an opportunity to leverage their extensive experience in the Australian marketplace to contribute to the growth of Jazwares brands and support longstanding partners in the region. The union of the two companies as team members marks a significant step forward in delivering value and expanding their market presence in Australia.
© 2023 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.