September 27, 1999 10:45
Grand Toys Acquires the Distribution Rights for Sonic The
Hedgehog(TM) In Canada
MONTREAL, Sept. 27 /PRNewswire/ -- Grand Toys International, Inc. (Nasdaq: GRIN) today announced that it has acquired the Canadian distribution rights for certain Sonic The Hedgehog(TM) products from
Toy Island Manufacturing, a privately-held toy manufacturer based in New York. Toy Island recently received the rights to manufacture and distribute Sonic The Hedgehog toys and plush throughout North
America from Sega of America, Inc.
The agreement gives Grand Toys the rights to distribute a wide variety of toys based on Sonic The Hedgehog, Sega's popular video game character, as he is featured in the new Sega Dreamcast(TM) video game "Sonic Adventure(TM)" and in the new animated television series "Sonic Underground(TM)." "Sonic Underground", which is distributed by The Walt Disney Company's Buena Vista Television, can currently be seen on the TELETOON network in Canada.
Products covered under the distribution agreement include the desirable 5.5" action figures, which in addition to "Sonic" will include "Tails," "Knuckles," "Big the Cat," and "Robotnik." The Sonic The Hedgehog toy line will also include vehicles and playsets, wind up vehicles, bendable figures, plush toys, electronic plush toys, remote control figures and vehicles, paper and stationery products, spring and summer toys as well as junior sporting goods. Product is currently expected to be available for shipment at various "roll-out" dates throughout the year 2000.
Steve Altro, Chairman of Grand Toys commented, "We are excited to add Sonic The Hedgehog to our diverse portfolio of licensed products. The excitement surrounding the recent launch of the Sega Dreamcast system should only add to the appeal of characters like Sonic, which we believe can transcend the video game market into popular toys. The addition of Sonic further demonstrates our commitment to pursue strong and exciting new product distribution licenses, from sources all over the world."
Sega of America, Inc. is the arm of Tokyo, Japan-based Sega Enterprises, Ltd. responsible for the development, marketing and distribution of Sega videogame systems and videogames in the Americas.
Sega Enterprises, Ltd. is a nearly $2.5 billion company recognized as the industry leader in interactive digital entertainment media, and is the only company that offers interactive entertainment experiences
both inside and outside the home. Sega of America's World Wide Web site is located at sega.com .
Founded in 1960, Grand Toys International is a premier licensee and distributor of a wide variety of toys and ancillary items in Canada and since January 1, 1999, a manufacturer and distributor in the U.S.
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and is subject to risk and uncertainties that could cause actual
results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions and the financial strength of the retail industry, particularly for toy and toy-related products; the level of consumer spending for such products; the effect of currency translations; the ability of the Company to successfully obtain its products from suppliers; and the success of advertising, marketing and promotional campaigns.
Note: Further information on Grand Toys International, Inc. is available through the Company's website on the World Wide Web at grand.com .
To receive additional information on Grand Toys International, Inc., via fax, at no charge, dial 1-800-PRO-INFO and enter code GRIN.
SOURCE Grand Toys International, Inc.
/CONTACT: Ken Cieply, Chief Financial Officer of Grand Toys
International, Inc., 514-685-2180, ext. 227; General Information, Alison Ziegler, Analysts, Vanessa Schwartz, or Media, Deanne Eagle, of The Financial Relations Board, 212-661-8030/
/Web site: sega.com /
/Web site: grand.com / |
