Mumbai, 6th March, 2023: DOMS Industries Pvt Ltd announces the acquisition of a 30% equity stake in toy manufacturing company ClapJoy Innovations Private Limited. This move is part of DIPL’s strategy to expand into newer and allied product categories to capitalise on its vast global distribution reach. This move is a step towards this strategy as it will mark its presence in the growing toy industry.
ClapJoy, a Delhi NCR-based, toy manufacturing and marketing firm, was established in 2021 with the goal of delivering joy and happiness to millions of children and parents. ClapJoy produces environmentally friendly children games and toys for ages 0 to 99. ClapJoy’s portfolio of products includes wooden toys, flash cards, board games, activity kits, crochet toys and educational and creative toys manufactured using natural material and non-toxic colors. In a short span of less than two years the ClapJoy team has scaled to selling more than 5,000 units monthly catering to educational segment as well as family and party segments.
The funds raised will also enable ClapJoy to expand its product portfolio and manufacturing capabilities. While DOMS shall get access to ClapJoy’s portfolio of products, ClapJoy shall benefit from DIPL’s extensive distribution network, consumer understanding and product engineering which shall help the company increase its market share and grow its revenue through pan India presence.
With this acquisition, DOMS believes that it will replicate it’s success in the stationery industry and become a leading player in the toy industry and establish itself as a partner during the growth years of a child. Commenting on this, Mr. Santosh Raveshia, MD, DOMS said, “As one of the leading player in the stationery segment, we are elated to announce the acquisition of minority stake in ClapJoy, which will help us expand into the toy segment. Fostering our growth, customer base, and diversified product portfolio, this milestone will enable us to further propel our future projects forward. ClapJoy’s range of toys will bring an added element of fun and joy to our existing portfolio, furthering our commitment to providing quality products to our consumers. With the alignment of synergies of our two companies, we look forward to unlocking the potential of the toy segment and becoming a leading player in this segment.”
Adding further to this, Neha Agarwal, Director, ClapJoy said, “We are delighted to announce our partnership with DOMS. We share a passion and enthusiasm for catering to young age groups and believe that our combined resources and expertise will bring great value to our business. We are confident that both parties will benefit from this strategic partnership, as we bring together our shared visions and ambitions. Our aim is to work towards developing indigenously designed and manufactured, environmentally safe products and cementing strong relationships with each other. We look forward to a productive partnership.”
“Children learn through play; learning should never be forced on them. We at Clapjoy have over dozen of toys and games which are engaging kids in meaningful ways without taking away the simple joy of play” added Sudeep Mangla, CEO, ClapJoy.
Thacker & Associates, a transaction advisory firm based in Mumbai has been the exclusive advisor for the deal.