Mattel, Inc. (NasdaqGS:MAT) is looking for Acquisitions. Ynon Kreiz Chairman and Chief Executive Officer said during the Full Year 2023 Earnings Conference Call, "Our 2024 plan emphasizes growth in profitability, gross margin expansion, and strong cash generation. With the benefit of a strong balance sheet and consistent with our capital allocation priorities, we intend to explore M&A and other corporate development opportunities as well as repurchase shares.

Some of the highlights for 2024 include Barbie's 65th anniversary celebration and related activations, as well as innovation in new segments and play patterns. Hot Wheels will expand its die-cast universe and benefit from a new animated series on Netflix". "We talked about our M&A approach before.

Consistent with our capital allocation strategy, we are going to, first of all, when it comes to deploying capital, first of all, it's about organic growth and maintaining our investment-grade rating with a leverage ratio between 2x and 2.5x debt to adjusted EBITDA. Now with our strong balance sheet and significant cash balance, we have the flexibility to look at more opportunities to grow the business, and this is M&A and share repurchases. As it relates to M&A, the criteria is going to look for opportunities that are strategic, that are accretive, that will help us improve our growth profile and create economic value for our shareholders.

And the terminology we used in the past, the way we said is that we are looking to do things that will be obvious to our investors. We're going to be smart, methodical. We worked very hard to put the company on a very strong financial footing as we are today.

And we will make sure that we will not change that if we do an M&A or pursue external opportunities for growth".