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K'nex construction toy maker sold to Florida firm by lender PNC

Basic Fun!, a Boca Raton, Fla., toy and novelty company bought the assets of K'nex, a Hatfield maker of construction toys, at a Jan. 29 auction by K'nex lender PNC Bank.

The maker of K’nex construction toys has been sold to Basic Fun!, a Boca Raton roll-up of toy manufacturers.
The maker of K’nex construction toys has been sold to Basic Fun!, a Boca Raton roll-up of toy manufacturers.Read moreK'nex

Basic Fun!, a Boca Raton, Fla., toy and novelty company bought the assets of K'nex, a Hatfield maker of construction toys, at a Jan. 29 auction, the buyer said Monday.

The price was not disclosed by PNC Bank, which auctioned the assets of K'nex. PNC said in a legal notice last month that it had received a $21 million offer for K'nex. Members of the Glickman family, who own Rodon Group, a plastics injection-manufacturing company in Hatfield, founded K'nex in 1992.

Rodon will continue manufacturing the toys under a long-term agreement, Basic Fun! said. Basic Fun!, which is a roll-up of toy manufacturers, also said it will maintain the K'nex office and distribution center in Hatfield.

The deal for K'nex includes classic toy brands Lincoln Logs and Tinkertoy.