JAKKS Pacific Inc. Signs Licensing Agreements With 8-Time Gold Medal Winner Pro Freestyle Bike Rider Dave Mirra and 'ABA King of Dirt' Ryan Nyquist|
MALIBU, Calif.--(BUSINESS WIRE)--Sept. 9, 1999--JAKKS Pacific Inc. (Nasdaq NM:JAKK - news) Thursday announced that, concurrent with signing a licensing agreement with Haro Bikes and Team Haro, the company has also signed individual licensing agreements with champion bike riders Dave Mirra and Ryan Nyquist to develop two separate lines of toy products that will carry their names.
Under its new Road Champs® BXS (Bike Xtreme Sports) brand, JAKKS Pacific will develop, manufacture and market 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 Mirra and Nyquist, action figure playsets, other products and keychains. JAKKS Pacific expects to ship the first products of the new line by mid-December with full product rollout in spring 2000.
Voted ''Male Athlete of the 1998 ESPN X-Games'' in San Diego, Mirra holds eight X-Games gold medals and two silver medals, more than any other competitor, in the street, vert doubles and vert competitions. He was also voted ''Freestyler of the Year'' by BMX Magazine.
Dirt jump and freestyle pro Nyquist holds two ''ABA King of Dirt'' titles and is a silver and bronze medal award X-Game winner. Ryan is also the only rider who ranks in the Top 10 of all three disciplines (dirt, vert and street).
''Dave Mirra and Ryan Nyquist are superstar riders of incredible caliber,'' said Stephen Berman, president and chief operating officer of JAKKS Pacific. ''They are the Mark McGuire and Sammy Sosa of their sport. They are heroes to scores of kids, and their names should have enormous appeal to their fans in the toy marketplace.''
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.
''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.
JAKKS Pacific Inc., Malibu
Stephen Berman, 310/456-7799
Silverman Heller Associates, Los Angeles
Ruth Shaer/Eugene Heller, 310/208-2550