history of Tonka Toys

Item number: Tonka Toys (4349)

Intern number: 4349

Category: Tonka Toys

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Company history and description of the company Tonka in Mound, Minnesota

On September 18, 1946 Lynn Everett Baker, Avery F. Crounse and Alvin F. Tesch founded the company Mound Metalcraft in Mound, Minnesota. The first products were were two versions of a metal tie-rack.
Tesch tinkered with some old toy concepts left by their building?s previous tenants, and dubbed the toys ?Tanka,? which means ?big? in Dakota Sioux tongue. The metal tie racks didn?t take off ? big surprise ? but the toy trucks did, and on November 23 1955 the company changed ist name from Mound Metalcraft to Tonka Toys Incorporated. The logo at this time was an oval, showing the Tonka Toys name in red above waves.
In 1987 Tonka purchased Kenner Parker, including UK toy giant Palitoy, for $555 million, borrowing extensively to fund the acquisition. However, the cost of servicing the debt meant Tonka itself had to find a buyer and it was eventually acquired by Hasbro in 1991

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