UPDATE 1-Jakks buys Tollytots, Kids Only

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Oct 13 (Reuters)- Toy company Jakks Pacific Inc (JAKK.O) said it bought the children's product businesses of Hong Kong-based Tollytots Ltd and Massachusetts-based Kids Only Inc and its Hong Kong affiliate Kids Only Ltd to strengthen its product portfolio.

Terms of the deal were not disclosed.

Tollytots Ltd is an eight-year-old, privately held toy company and manufacturer of licensed baby dolls and baby doll pretend play accessories based on Graco and other brands.

Kids Only Inc is a 13-year-old company, which makes indoor and outdoor kids' furniture as well as baby dolls and accessories. Its licensed portfolio includes character licenses, including Disney Princesses, Mickey Mouse, Dora the Explorer and Batman.

Shares of Jakks closed at $21.04 Friday on Nasdaq. (Reporting by Divya Nair in Bangalore; Editing by Deepak Kannan)