Now the Arnaults want to buy Barbie?

According to the latest news, L Catterton, a private equity fund backed by LVMH and owned by the Arnault family, has set its sights on Mattel, the multinational behind famous toy brands such as Hot Wheels, Fisher-Price, and the now hyper-iconic Barbie. According to Reuters, the acquisition offer has also sparked the interest of rival company Hasbro, which is considering making an alternative proposal to the group. After various international publications reported the news, Mattel told the Los Angeles Times that it still feels capable of making it on its own. A company representative chose not to comment on the recent rumors but added, «We are very confident in Mattel's strategy and our ability to create long-term value for shareholders as a standalone company.» Since the announcement of L Catterton's proposal and the potential counterattack from Hasbro, Mattel's shares have risen by 15%, while Hasbro's have increased by 1.14%.

Currently, L Catterton manages assets worth 34 billion dollars and has made over 250 investments in consumer brands in recent years. Recently, it acquired 42% of Value Retail outlets for 1.5 billion dollars and bought a majority stake in the beauty brand Kiko Milano. Additionally, it supported the Della Valle family in the takeover and delisting of Tod's. The expansive strategy of the fund managed by the most powerful family in fashion perfectly explains the Arnaults' potential interest in Mattel, a company that has seen revenue growth thanks to the success of the Barbie movie and the expansion of its presence in the film industry.

Some industry experts point out that L Catterton's interest in Mattel could trigger a bidding war with Hasbro and other candidates. Mattel, which is about to present its semi-annual accounts, recorded a 1% decline in revenue in the first quarter but an improvement in gross operating margin to 54 million dollars. Currently, the toy company continues to bet all its chips on film productions that bank on the nostalgia factor, with projects like the Hot Wheels movie produced by J.J. Abrams and the Polly Pocket film starring Lily Collins. Despite recent success and statements from company representatives, with a list of rather demanding initiatives such as three new films in production and growing investor pressure, Mattel might be forced to make a decisive choice: continue with individual games or finally become part of a team.