Ace Novelty Co., Inc., a leading supplier of licensed and proprietary plush toys and novelty products to the amusement park industry, has been in business for over forty years. Ace was located in Seattle, Washington from 1951 to 1982 when they moved to Bellevue, Washington.
By 1994, Ace had become a $150 million company and enjoyed tremendous success, driven principally by its Treasure Trolls product line, the largest selling television promoted toy in the nation at the time. Ace became financially troubled, however, as sales of this product line declined and the company could no longer support its overhead structure. After a concerted search for potential strategic acquirors, Ace Novelty contacted Play By Play Toys and Novelties, Inc., a supplier to the arcade industry. Play By Playes product line included only limited licensed products and the company lacked distribution to the amusement park segment of the industry.
In June of 1996 Ace Novelty was purchased by Play By Play Toys and Novelties of San Antonio, Texas. |