Step2 buys Thinkativity

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by Bob Gaetjens

The Gateway News Editor

Streetsboro -- The Step2 Co. LLC of Streetsboro announced Feb. 15 it is acquiring privately owned Thinkativity Inc., headquartered in Englewood, N.J., according to a news release from Step2 Co.

"Step2 is excited to partner with the creative team at Thinkativity to further broaden our offering of award-winning toys for families," said Step2 President and Chief Executive Officer Scott Lavin. "With this addition to our Step2 family of companies, we now provide a wider array of well-made, innovative toys for people who care about the experiences their children have when they play."

Step2 plans to attract new customers sooner with the new product line, made possible by the acquisition of Thinkativity, according to the news release.

Thinkativity President Jay Schiffman said he's happy to join Step2's team.

"We are delighted to be teaming up with Step2 and we look forward to expanding our business alongside one of the market leaders in toddler toys and imaginative play," he said.

At press time, officials from Step2 and Thinkativity were unavailable to comment on the cost of the acquisition and the impact it will have on Streetsboro.

Step2, headquartered on Aurora-Hudson Road in Streetsboro, is a producer of outdoor toys, playhouses, play kitchens, sand and water play, ride on toys, swing sets, wagons and kid's furniture.

Thinkativity is a maker of early learning, electronic and other educational toys, according to the news release.

Thinkativity will remain the brand name for learning toys created under Step2, according to the news release.

Yvonne V. Marsh, a senior managing director of Liberty Partners, L.P., the majority owner of Step2, said the acquisition complies with Step2's overall strategy.

E-mail: bgaetjens@recordpub.com

Phone: 330-686-3941