JAKKS Pacific Inc. Signs Licensing Agreements With BMX Riders Joe Rich and Taj Mihelich
Business Wire - January 11, 2000 06:45
MALIBU, Calif.--(BUSINESS WIRE)--Jan. 11, 2000--JAKKS Pacific Inc. (Nasdaq:JAKK) today announced that it has signed a licensing agreement with bicycle manufacturer Terrible One.
In addition, JAKKS Pacific has also signed licensing agreements with the owners of the company, popular free-style BMX riders Joe Rich and Taj Mihelich.
Pursuant to the agreements, JAKKS Pacific will develop -- under its Road Champs(R) BXS brand -- toy collectible miniature die-cast bikes, mini bike part accessories, bike playsets and action figures based on Taj Mihelich and Joe Rich.
Road Champs BXS bikes feature the exclusive "Trick Stick" that allows kids to perform their favorite bike stunts just like the pros. Full product rollout is expected in spring 2000.
Rich and Mihelich jointly own Terrible One, a domestic manufacturer of quality BMX bikes that has developed a strong following among free-style riders who are as much interested in artistic technique as they are in outright competition.
"Whether on the vert ramp or out on the streets," said Stephen Berman, president and chief operating officer of JAKKS Pacific. "Joe and Taj -- who are consistently ranked as two of the most popular riders in the country -- are recognized not only for their style and versatility, but for their many contributions to the sport as well. We are delighted to welcome them to the Road Champs BXS team."
JAKKS Pacific is a multi-brand 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(R); Flying Colors(R) molded plastic activity sets, clay compound playsets and lunch boxes; Road Champs(R) die-cast collectible and toy vehicles and Remco(R) toy vehicles and role-play toys and accessories; Child Guidance(R) 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.
CONTACT: JAKKS Pacific Inc., Malibu
Stephen Berman, 310/456-7799
or
Silverman Heller Associates, Los Angeles
Philip Bourdillon/Eugene Heller, 310/208-2550
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