Press release 30 January 2023:
AMO Toys acquires TecTeam and integrates all operations into AMO Toys
AMO Toys is pleased to announce that it has acquired all assets from the Stockholm-based toys distributor TecTeam. With an established record of success especially in the Radio Control and Vehicle segments, the acquisition will strengthen AMO Toys portfolio by bringing TecTeam’s know-how and product portfolio to AMO Toys existing Toy offering.
The team of three in TecTeam is known for their in-depth knowledge in Radio Controlled and Vehicle toys. With brands like NIKKO, Syma, RASTAR and NINCO TecTeam is having a strong position in the Nordic Toy Market in this space.
All operations and employees from TecTeam will be integrated in AMO Toys as of 27.01.2023. The sellers are the founders and owners, Arne and Cecilia Palm.
“TecTeam is an exciting company with a well-established position in the Nordic toy market that brings a lot of value to AMO Toys,” says Henrik Matilainen, CEO of AMO Toys. “We have been looking at ways to increase our share within the RC- and vehicle segments and TecTeam ́s position in the market is perfectly positioned for that. Their expertise will help support us as we continue to grow our market share in the Nordic Toys market.”
“We’re really excited to be joining AMO Toys,” said TecTeam ́s CEO Arne Palm.
“Having AMO Toys’ organization and distribution network support gives us confidence in strong future for years to come. This transaction gives me and Cecilia also peace of mind for the longer term continuity for the business we have created”
For more information, please contact:
Henrik Matilainen, CEO, AMO Toys, +358 40 727 07 50 Arne Palm, CEO, TecTeam, +46 70 687 50 77
About AMO Toys
AMO Toys is a Nordic distributor of Toys and traditional Board Games with offices in Sweden, Norway, Denmark, Finland and Hong Kong. The company distributes a number of Toy products and brands, such as Squishmallows, L.O.L. Surprise and Baby Born.
AMO Toys is part of Thunderful Group, a group of companies that develops, publishes and invests in games, while also distributing Nintendo products, games, game accessories and toys. Thunderful Group is listed on Nasdaq First North Premier.
