JAKKS Pacific Inc. Signs Licensing Agreements With Lionel and Pennzoil
MALIBU, Calif.--(BUSINESS WIRE)--Dec. 23, 1999--JAKKS Pacific Inc. (Nasdaq:JAKK - news) today announced that the company has signed individual licensing agreements with Lionel L.L.C. and Pennzoil-Quaker State Co. (NYSE:PZL - news) to develop two separate lines of toy products that will carry the companies' respective names and logos.
The two lines, to be developed and marketed under JAKKS' Road Champs® brand, will include a variety of collectible die-cast motor vehicles. Full product rollout is expected in the spring of 2000.
Stephen Berman, president and chief operating officer of JAKKS Pacific Inc., noted that Lionel® and Pennzoil® are among the best-known brand names in the country.
''Lionel is undisputedly an American icon, having sold model train sets to several generations of Americans since its founding in 1900,'' said Berman, ''and Pennzoil, in business for more than a century, has established a brand awareness among consumers that is unsurpassed by any of its peers.
''We look forward to having them as marketing partners, and we expect that each will contribute measurably to the continuing success of our Road Champs collectible line of products.''
JAKKS Pacific and its affiliates develop, manufacture and market toys and related products for children, including action figures featuring characters from the World Wrestling Federation, die-cast collectible and toy vehicles under the Road Champs® and Remco® brand names, Child Guidance® preschool toys and a line of fashion dolls and accessories.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual future results or events may vary materially from those described herein.
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Contact:
JAKKS Pacific Inc., Malibu
Stephen Berman, 310/456-7799
or
Silverman Heller Associates
Philip Bourdillon/Eugene Heller, 310/208-2550 |
