US toymaker Hasbro announced Thursday that it is acquiring studio Entertainment One, which owns popular cartoon series “Peppa Pig” among other children’s content, for approximately $4 billion.

Under the all-cash transaction, Entertainment One shareholders will receive 5.6 pounds ($6.86) per share, according to a statement from Hasbro.

In addition to Peppa Pig, the popular swine with a British accent who loves jumping in muddy puddles, the purchase includes the successful children’s cartoon “PJ Masks,” about a trio of young friends who become superheroes at night.

“The acquisition of highly profitable and merchandisable preschool brands is a strategic growth opportunity for Hasbro,” the company said.

“Peppa Pig” has extended itself to new profit streams that continue its success, it added.

Read also:

Meanwhile “PJ Masks” growth outlook “is supported by new formats, its current rollout in China, the launch of new seasons in multiple regions, a live touring event and new toy lines.”

Hasbro is additionally banking on the success of the launch of yet another Entertainment One character, Ricky Zoom, a little red rescue bike, which it calls a “unique storyline with highly merchandisable content.”

The cartoon will launch on September 9 on US children’s network Nickelodeon, and in other major markets.

Hasbro plans for the acquisition to save it $130 million through in-sourcing and other synergies by the year 2022.

Three quarters of the acquisition will be carried out with the proceeds of debt financing thanks to a loan of just under a year from Bank of America Merrill Lynch. Approximately $1-$1.25 billion will be financed in cash.

Hasbro said it is committed to doing everything within its power to maintain an investment grade rating.