Hasbro, the toymaker known for producing popular brands Transformers and Play-Doh, and games like Monopoly, Magic: The Gathering and Dungeons & Dragons, may be considering moving its headquarters from Pawtucket to Boston, according to a published report.
The Boston Business Journal, citing anonymous sources, said that company officials had recently toured multiple office buildings in downtown Boston. The sources spoke on the condition of anonymity given the sensitive nature of a potential relocation, according to the publication.
Hasbro CEO Chris Cocks, who was attending a business luncheon in Providence on Sept. 16, directed inquiries to Roberta Thomson, the company’s chief communications officer.
“As Hasbro continues to evolve, we’re exploring options for our global headquarters to make sure it is a space that can best serve our employees, partners, and business needs for years to come,” Thomson said in a statement. “We’re taking our time, evaluating all options that can best support our team’s creativity and innovation, and will share updates on our progress.
“Regardless of the outcome and location, we remain committed to our history – not leaving it behind, but building on it.”
In a statement, Rhode Island Gov. Dan McKee said that he and Pawtucket Mayor Donald Grebien agree that it is “all hands on deck to keep Hasbro in Pawtucket.”
“We have reached out to Hasbro CEO Chris Cocks and we look forward to meeting with him with the ultimate goal of ensuring Hasbro remains and thrives in our state,” the governor said. “Together, the State and the City will absolutely pursue all options to maintain Hasbro’s presence in Pawtucket.”
Matt Touchette, a spokesperson for Rhode Island Secretary of Commerce Liz Tanner, told WPRI that state officials “are committed to continuing our efforts to keep Hasbro headquartered in Rhode Island.”
Tanner met with Hasbro executives in February, Touchette told the television station. At the time, no mention of a potential move had been made, he said.
Hasbro closed its Providence office this year as the lease on the building had expired, according to The Providence Journal.
In December 2023, the company said in an SEC filing posted to Hasbro’s website that it planned 1,100 layoffs. The move was announced by Cocks in a memo. That came after Hasbro cut 800 jobs in January 2023.
Hasbro has considered moving its headquarters before. In 2017, the company confirmed it was evaluating “several options for contemporizing” its headquarters in Pawtucket, the Providence Journal reported.
Hasbro was founded on Dec. 6, 1923, in Providence by Henry and Hillel Hassenfeld, according to the company’s website.
The company first sold textile remnants before selling pencil boxes. The company’s first line of toys, doctor and nurse kits, were produced in 1940.
Classic toys sold by the company were Mr. Potato Head in 1952, and G.I. Joe in 1964. My Little Pony debuted in 1983, followed by Transformers the following year, according to the company’s website.
Hasbro has recently invested in building up its digital game offerings, according to the Boston Business Journal.
“We’re going all-in on becoming a digital-play company,” Cocks told analysts on a recent call, according to the publication. “We’re skating to where the puck is going as opposed to where the puck has been.”
