JAKKS Pacific Inc. Signs Licensing Agreements With Top BMX Bike Manufacturers
MALIBU, Calif.--(BUSINESS WIRE)--Jan. 10, 2000--JAKKS Pacific Inc. (Nasdaq:JAKK - news) today announced that it has signed licensing agreements with bicycle motocross (BMX) manufacturers 2-Hip Bikes, Bully Bikes and KHS for its Free Agent brand of bicycles.
Pursuant to the agreements, JAKKS Pacific will develop -- under its Road Champs® BXS brand -- toy collectible die-cast bikes and vehicles, minibike part accessories, bike playsets and bikes with gear accessories that are exact replicas of the real bikes and gear used by the pros.
Road Champs BXS bikes feature the ''Trick Stick'' that allows kids to perform their favorite bike stunts just like the pros. Full product rollout is expected in spring 2000.
2-Hip Bikes and Bully Bikes (both of which are rider-owned) manufacture a variety of street and jumping bikes designed for serious BMX riders. Free Agent, a subsidiary of KHS, produces bikes for both recreational and professional riders and is ranked among this year's top 10 BMX manufacturers by readers of Ride/Snap magazine.
All three brands are well known to enthusiasts of the ''King of Vert'' and ''Meet the Street'' series, two popular BMX events that were started in the late 1980s by Ron Wilkerson (founder of 2-Hip Bikes) at a time when there were few opportunities for professionals to compete.
The appearance of countless additional events during the past decade -- covering everything from BMX racing to freestyle street contests -- has dramatically expanded the popularity of the sport and provided manufacturers and their riders further opportunities to gain recognition while marketing their products.
Additional information may be found at www.2hip.com, www.bullyhammer.com and www.freeagentbmx.com.
JAKKS Pacific is a multibrand toy company that designs, develops, produces and markets toys and related products, including: action figures and accessories featuring licensed characters, principally from the World Wrestling Federation®; Flying Colors® molded plastic activity sets, clay compound playsets and lunch boxes; Road Champs® die-cast collectible and toy vehicles and Remco® toy vehicles and role-play toys and accessories; Child Guidance® infant and preschool electronic toys, toy foam puzzle mats and blocks and activity sets and outdoor products; and fashion and mini dolls and related 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, Los Angeles
Philip Bourdillon or Eugene Heller, 310/208-2550
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