Action Performance Signs Exclusive Licensing Agreement With Team Red Bull Sauber Petronas
PHOENIX--(BUSINESS WIRE)--April 27, 1999--Action Performance Companies Inc. (Nasdaq NM:ACTN - news) Tuesday announced that it has signed a two-year exclusive licensing agreement with Red Bull Sauber Petronas, which includes current Formula One drivers Jean Alesi and Pedro Diniz.
Under the terms of the agreement, Action will create and market a range of licensed products including apparel, souvenirs, and a line of die-cast scaled replicas of the Red Bull Sauber Petronas Formula One race cars. The licensing agreement is effective through December 2000.
Said Fred W. Wagenhals, Action chairman, president and chief executive officer, ''We are pleased to announce our licensing agreement with Red Bull Sauber Petronas. The integration of our acquisitions of Goodsports and MiniChamps has allowed us to offer our full-service concept to Red Bull Sauber Petronas and other Formula One teams and drivers.
''We are excited about our opportunity to build the Red Bull Sauber Petronas brand under one coordinated marketing effort.''
Action Performance Companies Inc., is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs and other memorabilia.
The company markets and distributes products through a variety of channels, including the 165,000-member Racing Collectables Club of America (RCCA), online through SpeedMall at goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.
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Contact:
CONTACTS: Action Performance Companies Inc., Phoenix
Christopher Besing, 602/337-3703
Fred Wagenhals, 602/337-3710
Victoria Welch, 602/337-3702 |
