NECA Acquires Chia Pet & The Clapper
: Jay Cochran - 2018.02.16
National Entertainment Collectibles Association (NECA), Joseph Enterprises, Inc. (JEI) and Joseph Pedott Advertising and Marketing, Inc. (JPAM) today announced the closing of an agreement under which NECA has acquired both companies. The globally recognized powerhouses behind the creation and success of iconic creations Chia Pet and The Clapper join the growing NECA family of specialty entertainment companies, which are poised for cross-company collaboration.
JEI and JPAM will proceed as NECA subsidiaries under the auspices of current vice presidents Michael Hirsch and Al Lam, and will continue as normal. JPAM has deep expertise producing and broadcasting television commercials throughout the USA and Canada over its 55 years of existence and will continue to purchase TV time on behalf of its clients and JEI. The companies will remain headquartered in San Francisco, and gain the support of NECA’s vast network of suppliers, creatives and internal team members.
Joseph Pedott, founder of both companies and the man responsible for the decades-long success of Chia Pet (which debuted in 1982) and The Clapper (first sold in 1985), will remain involved for the transition to help oversee the businesses as they are integrated into the NECA family.
“The legacy built by Joseph Pedott will always be in the DNA of the company. I am honored to continue his legacy,” said Joel Weinshanker, COO of NECA. “Thanks to him, more people in America have seen a commercial for the Chia Pet or The Clapper than watched the past nine Super Bowls combined. The average person on the street can sing one of the jingles. They’ve appeared in countless movies and TV shows; they’re even housed in the Smithsonian. That’s a cultural resonance most products can only dream of.”
G2 Capital Advisors, LLC was the exclusive sell-side financial advisor to Joseph Enterprises, Inc. and Joseph Pedott Advertising and Marketing, Inc.
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