KUALA LUMPUR, Feb 2 (Bernama) -- MGA Entertainment Inc (MGA), one of the world’s largest and fastest growing privately held toy and entertainment companies, has established four wholly-owned subsidiaries in the European Union (EU) to support its fast growing international business.
The four subsidiaries, namely, MGA Toys Iberia S.L. (led by Managing Director Mila Gonzalez), MGA Entertainment Greece (led by Managing Director Panos Kalogeropoulos), MGA Entertainment Italy SRL (led by Managing Director Andrea Signorelli), and MGA Toys France (led by Managing Director Thierry Thivolle).
These subsidiaries will support marketing and sales administration efforts, staffed by employees who have worked for MGA Entertainment in each of the markets, now employees of their respective subsidiary in the same roles.
“Our business outside of the US is strong and increasingly important to MGA Entertainment. Establishing these new subsidiaries will allow us to grow our business more quickly in these important markets.
“I look forward to working closely with the teams in each of these markets to continue to bring new, innovative, and fun MGA toys and products to consumers across the EU,” said MGA Entertainment Founder & Chief Executive Officer, Isaac Larian.
According to MGA in a statement, this move demonstrates the company’s commitment to growing its businesses in those markets and to its international business overall.
MGA previously announced its plans to merge with Zapf Creation AG, Europe’s leading manufacturer of nurturing dolls, while its wholly-owned German subsidiary has entered into negotiations of a merger agreement which is expected to close in late spring of this year.
-- BERNAMA
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