Great American Capital Partners (GACP), a subsidiary of B. Riley Capital Management, agreed to provide a $20 million senior secured term loan to JAKKS Pacific. The proceeds will be used to pay off a portion of JAKK’s short-term debt maturities and provide an additional source of working capital.
“GACP is pleased to work with the JAKKS Pacific team to provide a financing solution that meets their capital needs and accomplishes their business initiatives,” said John Ahn, president of GACP. “This transaction is another example of GACP’s ability to provide creative solutions to the challenging retail environment. We look forward to building this relationship.”_x000D_
“The GACP team demonstrated their deep understanding of our business and developed a flexible capital solution that addressed our needs,” said Stephen Berman, chairman and CEO of JAKKS Pacific. “This loan provides us with the necessary liquidity to continue our ongoing operations and improve our capital structure.”
Headquartered in Santa Monica, CA, JAKKS Pacific designs, manufactures and markets toys and consumer products sold throughout the world. Its proprietary brands include, among others, Perfectly Cute, Real Workin’ Buddies, Squish-Dee-Lish, XPV, Moose Mountain and Funnoodle, along with a wide range of licensed properties products and C’est Moi, a youth skincare and make-up brand.
