JAKKS Pacific Inc. Signs Licensing Agreement to Develop New Toy Line for Haro Bikes and Team Haro|
MALIBU, Calif.--(BUSINESS WIRE)--Sept. 8, 1999--JAKKS Pacific Inc. (Nasdaq/NM:JAKK - news) Wednesday announced that it has signed a licensing agreement to develop a line of collectible toy products for Haro Bikes and Team Haro.
Haro Bikes is a recognized leader in providing innovative bikes, parts and accessories to the BMX, dirt, freestyle/street and all terrain (MTB) markets.
Under its new Road Champs BXS (Bike Xtreme Sports) brand, JAKKS Pacific will develop, manufacture and market Haro toy collectible die-cast and plastic vehicles and bicycles; action sport playsets; bike replicas comprising ''Trick Sticks'' that emulate the stunts, moves and jumps of top riders; action figures based on Team Haro; action figure playsets; handheld and tabletop games; and bike keychains.
JAKKS Pacific expects to ship the first products of the new line by mid-December with full product rollout in spring 2000.
Commented Stephen Berman, president and chief operating officer of JAKKS Pacific: ''We're glad to be part of the Haro Team. Team Haro has won more gold medals in ESPN's X-Games than any other bike brand. Haro will give our new Road Champs BXS brand credibility and association with one of the hottest brands in the bike business.''
Commented Brad Lusky, chief financial officer and vice president operations for Haro Bikes: ''We expect the marketing success of the Haro brand, teamed with JAKKS, one of the top manufacturers in the country, will make the Road Champs BXS collections a success with young consumers. Haro's popularity and leadership in the BMX/Freestyle markets is due in large part to the success of Dave Mirra and Ryan Nyquist, two of the biggest names in extreme sports. In addition, Haro was recently voted the bike company with the coolest image by the readers of Ride Magazine.''
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.
JAKKS Pacific Inc., Malibu
Stephen Berman, 310/456-7799
Silverman Heller Associates, Los Angeles
Ruth Shaer/Eugene Heller, 310/208-2550