LaRose Industries to acquire Mattel's AST business.

LaRose Industries, a distributor of toys, agreed to acquire the Arts, Crafts, Stationery business from Mattel, a toy manufacturer. Financial terms were not disclosed. "I couldn't be more excited to have the legendary RoseArt name back in the family. I spent over 30 years imagining and building this brand alongside my father Sydney and brother Jeffrey, and I am so happy to call it my own once again. My grandfather started RoseArt and since then, the company has created tens of thousands of nostalgic toys, games, and crafts that resonate with kids and families throughout the world. These items stand for quality, and like all of our great products, the RoseArt brand will allow kids to be creative and explore a fun world of imaginative play. Of course, RoseArt is also a perfect complement to our current popular arts and crafts segment," Lawrence Rosen, LaRose Chairman.