Hasbro Company History Timeline

1926

In 1926, Hassenfeld Brothers was incorporated; Hillel left for another textile business while Henry took charge of the corporation.

1935

Henry Hassenfeld responded with a vow to enter the pencil business himself, and in 1935 Hassenfeld Brothers began manufacturing pencils.

1942

The Hassenfeld Brothers became a toy company in 1942.

1943

Hillel died in 1943 and Henry Hassenfeld became CEO, while his son Anthony Merrill became president.

1950

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1952

In 1952, the company introduced its still-classic Mr.

The company expands its product line to include toys, such as paint sets, wax crayons, and doctor and nurse kits.1952: Mr.

Potato Head, which the company purchased from George Lerner in 1952.

1954

In 1954, the company became a Disney major licensee.

1960

Henry Hassenfeld died in 1960.

Looking for a way to stay in business, Bradley invented and produced a boardgame called The Checkered Game of Life, a distant precursor of a popular Milton Bradley game, The Game of Life, which was introduced in 1960.

1961

Hassenfeld Brothers expanded to Canada with Hassenfeld Brothers (Canada) Ltd. in 1961.

1963

The company was approached in 1963 to license a toy based on The Lieutenant, which they turned down because they did not want to be tied to a possibly short-lived television series.

In 1963 the company introduced Flubber, but reports of sore throats and rashes from the product and knock-offs prompted an investigation by the Food and Drug Administration and a voluntary recall by Hassenfeld Brothers.

1964

Introduced in 1964, the posable action figure went on to rake in between $35 and $40 million over its first two years on the market.

Instead, Hassenfeld Brothers produced the G.I. Joe toy in 1964 which they termed an "action figure" in order to market it to boys who wouldn't want to play with dolls.

1968

In 1968 MB acquired Chicago-based Playskool Manufacturing, which was noted for its preschool toys.

1968: Hassenfeld Brothers Inc. changes its name to Hasbro Industries, Inc.

The company had previously sold toys under the Hasbro trade name, and it shortened its name to Hasbro Industries in 1968 and sold a minor stake in the corporation to the public.

1969

In 1969 G.I. Joe, still the company's leading moneymaker, was repackaged in a less militaristic "adventure" motif, with a different range of accessories.

Nevertheless, a month-long Teamsters strike and troubles with Far Eastern suppliers hurt Hasbro in 1969, and the company posted a $1 million loss for the year.

1970

In 1970, Hasbro began a plan of diversification and opened the Romper Room Nursery School franchise chain to cash in on President Richard M. Nixon's Family Assistance Plan which subsidized day care for working mothers.

1971

Among Milton Bradley's later successes was the "body action" classic Twister, which was published in 1971 and became a popular prop with talk show hosts for a while after Johnny Carson challenged Eva Gabor to a go-around on "The Tonight Show."

1974

In 1974 Merrill Hassenfeld became CEO of Hasbro, while his son, Stephen D. Hassenfeld, became president.

1976

Kenner produced the original toys in 1976.

1977

In 1977, Hasbro's losses were $2.5 million, and the company held a large debt load.

1979

The dam threatened to burst in 1979, when Merrill Hassenfeld died at age 61.

With Merrill's death in 1979, Harold did not recognize Stephen's authority as the successor to the chairman and CEO position.

1980

The feud was resolved in 1980, when Hasbro spun off Empire Pencil, which had become the nation's largest pencil maker, and Harold exchanged his Hasbro shares for shares of the new company.

Much of the growth since 1980 had come from the company's various acquisitions, along with Hasbro's largely successful efforts to leverage the new assets it gained through the deals.

1983

In 1983 Hasbro acquired GLENCO Infant Items, a manufacturer of infant products and the world's largest bib producer.

1984

In 1984 Stephen Hassenfeld turned over the position of president to his brother, Alan, while remaining CEO and chairman.

1985

In addition to the Cabbage Patch dolls, which had fallen from their peak of popularity during the 1985 Christmas season, Coleco also owned the rights to the classic board games Scrabble and Parcheesi.

1985, Hasbro moved past Mattel to become the world's largest toy company.

1985: Hasbro unites its four subsidiaries—Hasbro Toys, Milton Bradley, Playskool, and Playskool Baby—under the name Hasbro, Inc.

In 1985, the company changed its name again to just Hasbro, Inc.

The Jumpstarters toys were the subject of a lawsuit in 1985 when Hasbro sued a toy manufacturer for selling toys based on their Transformers design.

1987

Jem initially posted strong sales but plummeted and was withdrawn from the market in 1987.

1988

On December 19, 1988, the Consumer Product Safety Commission banned lawn darts from sale in the United States due to their hazards as a flying projectile with a sharp metal point causing multiple deaths.

1990

Maxie lasted twice as long as Jem and was discontinued in 1990.

1991

He did just that in 1991, establishing operations in Greece, Hungary, and Mexico.

Alan succeeded Stephen as chairman and CEO. In 1991, Hasbro purchased Tonka Corp. for $486 million, along with its units Parker Brothers, the maker of Monopoly, and Kenner Products.

1992

Eventually, in 1992, the company began development of a mass-market virtual reality game system.

1992: Company acquires Nomura Toys Ltd. of Japan, and the controlling interest to Palmyra, a toy distributor in Southeast Asia.

In 1992, Hasbro purchased Nomura Toys Ltd. in Japan, and majority ownership of Palmyra, a Southeast Asian toy distributor.

1993

In 1993, Hasbro bought a 15 percent stake in Virgin Interactive Entertainment, a producer of game software for Sega and Nintendo systems, with the intention of developing software based on Hasbro toys and games.

In 1993, Hasbro lost its bid for J. W. Spear & Sons, a U.K.-based game maker, to Mattel.

1994

Mattel again became the number-one toy maker in 1994 and attempted a takeover bid for Hasbro.

The Hasbro Charitable Trust also supports the Hasbro Children's Hospital, which opened in 1994.

1994: Hasbro acquires Games division of John Waddington PLC, makers of Pictionary.

To turn domestic performance around in 1994, Hasbro merged the Hasbro Toy, Playskool, Playskool Baby, Kenner, and Kid Dimension units into the Hasbro Toy Group.

1995

More than 46 percent of the company's operating profit was attributable to operations outside the United States in 1995.

Although such a system was successfully developed, it was judged too expensive for the mass market and the project was abandoned in 1995, resulting in a charge of $31.1 million.

A more promising venture began in 1995 with the establishment of Hasbro Interactive and the release of its first product that same year, a CD-ROM version of Monopoly.

In 1995, Mattel approached Hasbro about a possible merger of the two largest toy companies in the world.

However, precipitous drop-offs in Pokémon and Star Wars merchandise sales and a weak interactive games market led to Hasbro's first negative financial quarter since 1995.

1995: Company acquires the Laramie Corporation, makers of SuperSoaker brand water guns.

1996

fitzgerald, kate. "hasbro, mattel play for keeps in cyberspace." advertising age, 15 january 1996. available at: http://www.conceptone.com/netnews/nn713.htm.

"company news' sec is asked to investigate trading of hasbro." bloomberg business news, the new york times, 8 may 1996.

Additional titles to be released in 1996 included Risk, Battleship, and Playskool-brand games.

Negotiations took place in secret over the course of several months until the Hasbro board early in 1996 unanimously turned down a $5.2 billion merger proposal that would have given Hasbro stockholders a 73 percent premium over the then-current selling price.

Hasbro donated $6.5 million in 1996 to service programs that help children, their families, and their communities.

International sales accounted for approximately 45 percent of revenues in 1996.

1997

"hasbro, inc. company profile." 19 march 1997. available at http://www.efund.com/hasbro_co_prof.html.

Already planned for 1997 were several promising film tie-in prospects, including the movies Jurassic Park 2, Batman and Robin, and Barney, as well as the theatrical rerelease of Star Wars.

Of this, 37 percent was derived from two retail outlets: Toys 'R' Us (22 percent) and Wal-Mart (15 percent). Also in 1997 the company spent $386,912 on royalties and product development and approximately $411,574 on marketing programs.

In 1997 worldwide sales totaled $3.12 billion.

1997: Company acquires licensing rights to three new Star Wars prequels for almost $600 million and over 7 percent of Hasbro stock.

1998

greenberg, herb. "hasbro's short-toy shortage." fortune, 27 april 1998.

In 1998, Hasbro released a Star Wars edition of Trivial Pursuit.

1998: Hasbro acquires Tiger Electronics, makers of Furby, and also acquires the license to Teletubbies.

In 1998, Hasbro bought Avalon Hill for $6 million and Galoob for $220 million.

1999

Some estimated that sales of Star Wars-related items could surpass $1 billion in 1999—that's a lot of Imperial credits for Hasbro.

The following year, Hasbro not only acquired Wizards of the Coast, makers of the popular 1999 Christmas children's gift, Pokémon game cards, but they also reaped huge dividends from merchandise associated with the first of three Star Wars prequels, The Phantom Menace.

In 1999, Hasbro paid $325 million for rights to Pokémon toys.

2001

Determined to return to profitability in 2001, Hasbro took decisive action.

2001: Hasbro sells Hasbro Interactive and Games.com, an interactive gaming Web site, to Infogrames Entertainment.

In 2001 money-losing Hasbro Interactive was sold to Infogrames, a French software concern, for $100 million.

2008

In 2008, Hasbro acquired game maker Cranium, Inc. for $77.5 million.

2009

In 2009, Hasbro Studios was formed for TV development, production and distribution.

2010

Hasbro collaborated with Discovery on The Hub, a cable television network targeting younger children and families, which launched on October 10, 2010.

2011

Having been absent from the building block market since the failure of the Built to Rule line, Hasbro re-entered the market with the Kre-O line in late 2011, starting with some Transformers-based sets.

2012

In December 2012, Hasbro transferred all entertainment divisions to Hasbro Studios, including their LA-based film group, and Cake Mix Studio, the company's Rhode Island-based producer of commercials and short form content.

In 2012, Hasbro received a US$1.6 million tax credit from the state of Rhode Island with a promise to create 245 new jobs in the state.

2013

In July 2013, Backflip Studios sold a 70% stake in the company to Hasbro for $112 million in cash.

Hasbro was named by Fortune magazine as one of the top 100 companies to work for in 2013, citing that the "company enhanced its vacation policy by giving new employees three weeks off in their first year instead of having to wait five years."

2015

On July 14, 2015, the company announced the intent to sell its last two factories, in Ireland and East Longmeadow, Massachusetts (including its 360 Manufacturing Services), to Cartamundi.

With Mattel adding two competing lines, and the expiration of their Disney Princess license at the end of 2015, Disney gave Hasbro a chance to gain the license given their work on Star Wars, which led to a Descendants license.

2016

In July 2016, Hasbro acquired Dublin-based Boulder Media Limited and placed it under the control of its chief content officer.

2017

On November 10, 2017, the Wall Street Journal reported that Hasbro had made a takeover offer for Mattel, Inc.

2018

On May 1, 2018, Hasbro agreed to purchase Power Rangers and other entertainment assets from Saban Brands for US$522 million in cash and stock with the licensing fee recently paid with credit.

In October 2018, the company announced plans to cut jobs amounting to less than 10% of its 5,000-plus global workforce in response to changes in how consumers buy toys.

2019

On August 22, 2019, Hasbro announced its purchase of Entertainment One for about US$4 billion.

On December 18, 2019, Hasbro and West Edmonton Mall announced that Galaxyland would get a makeover, with rides being redone and renamed to Hasbro properties.

Hasbro granted Kingsmen Creatives a license to build a chain of NERF Action Xperience family entertainment centers, with the first to be opened in Singapore in fall/winter 2019.

2020

In February 2020, Hasbro announced that Campbell Arnott's former CMO David McNeil had joined the company as the managing director for Pacific operations.

In September 2020, Renegade Game Studios announced they had acquired licensing for creating tabletop games for multiple Hasbro brands.

Construction was begun later that month and scheduled to wrap up in late 2020.

2021

In February 2021, during the 2021 Investor Event, Hasbro announced a company reorganization with three divisions: Consumer Products, Entertainment, and Wizards & Digital.

BlogMay 21, 2021Thought leaders talk: Workplace trends for 2021 and beyondMay 13, 2021The modern seller’s guide to closing large dealsMay 5, 2021Prezi partners with Cisco to usher in the future of hybrid workLatest posts

Hasbro's longtime CEO Brian Goldner died on October 12, 2021, after a 7 year battle with cancer.

2022

Richard Stoddart served as the interim CEO of the company until Chris Cocks was announced as the new CEO on January 5, 2022.

"Hasbro, Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/hasbro-inc-1

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Hasbro may also be known as or be related to Hasbro, Hasbro Inc, Hasbro, Inc, Hasbro, Inc. and Hassenfeld Brothers (1923–1968) Hasbro Industries (1968–1984) Hasbro Bradley (1984–1985).