Foundation and growth before the turn of the millennium Zapf Creation was founded in 1932 by Max and Rosa Zapf as
Max Zapf Puppenfabrik. During
World War II, doll production faced significant disruptions due to material shortages. In 1958, Willi Zapf, the son of the company founders, and his wife Brigitte Zapf took over the company. Subsequently, they started the expansion of operations throughout Europe. Two years later,
Max Zapf Puppen- und Spielwarenfabrik GmbH (Max Zapf Doll and Toy Factory) was established. Zapf also sold inflatable and swimming articles at this time. In 1980, production was moved abroad, later expanding into
East Asia and commencing production in
China in 1992. In 1991, the
Baby Born brand was introduced, In 1992,
MM Industrie Beteiligungs GmbH Munich acquired a majority stake in Zapf through its parent company
Triumph Adler Spiel- und Freizeit Holding GmbH. The following year, a sales office was established in
Spain, while Zapf dolls entered the
US market in 1995. Willi Zapf left the company in 1997. In 1998, the electric functional doll
Baby Annabell was introduced to the market.
Initial public offering and delisting In 1999, the GmbH was converted into the stock corporation
Zapf Creation AG and subsequently listed on the SMAX on April 26, 1999. Within the following year, subsidiaries were established in the
United Kingdom (
Zapf Creation (UK) Ltd.) and
France (
Zapf Creation (France) S.A.R.L.). Further subsidiaries in
Australia,
Italy and the
Czech Republic followed, leading to the company's promotion to the
MDAX in December 2001. The Spanish branch was also restructured into a subsidiary in 2002, and in 2003, a subsidiary was established in Poland. Ultimately, shareholder loans from the main shareholder,
MGA Entertainment, a US-based toy group, ensured the continuation. These loans were successively converted into equity in 2008. At that time, 66 percent of the shares were owned by MGA, or by its
CEO,
Isaac Larian, through various foundations. Early in 2013, Larian reduced his shares in Zapf to between 25 and 50 percent. Following a loss of over half of the company's capital stock, the company's
annual general meeting on July 3, 2013, sanctioned a capital reduction, merging shares in a 3:1 ratio. In October 2018, the company decided to delist from the
Baden-Württemberg Stock Exchange. The share has been unlisted since then.
Renewed growth Starting in 2018, the company's business developed positively again, except for the UK. This development was mainly achieved by streamlining the product range. In addition, the company's major shareholder, Larian, promoted innovations within the company and focused business operations on the German and UK markets. On October 9, 2023, it was announced that Zapf would merge with longtime partner
MGA Entertainment. The deal closed at the end of Spring 2024, and Zapf Creation AG was renamed to
MGA Zapf Creation GmbH on July 16, 2024. ==Company==