Agreement Initially Focuses on Two Brands in China and Other Major International Markets
SHANGHAI, China and PAWTUCKET, R.I.--(BUSINESS WIRE)-- During a ceremonial signing of a Collaboration and Investment Letter of Intent ahead of the Shanghai Toy Fair, Hasbro, Inc. (NASDAQ: HAS), a leading global branded play company, and Alpha Animation, the leading toy and entertainment company in China, today announced plans for a strategic co-development partnership for China and the global markets. Under this Letter of Intent, Hasbro and Alpha Animation intend to form a Chinese joint venture company for the co-development of toys and games.
This initial Letter of Intent -- which is still subject to agreement on definitive terms -- focuses on the popular brand Blazing Teens from Alpha Animation. A brand from Hasbro’s global portfolio also will be selected for development. Hasbro and Alpha Animation will in turn collaborate to develop these brands for China and global markets.
David Hargreaves, Hasbro’s Chief Operating Officer, and Mr. Cai Xiaodong, Alpha Animation Executive Vice President, signed the Letter of Intent today, Thursday, October 11, 2012, at a ceremony in Shanghai.
“This long-term, strategic partnership will marry Hasbro’s global capabilities in both merchandise and television programming with Alpha Animation’s expertise and reach in entertainment, including television programming and toy distribution within China,” said David Hargreaves. “Through our collaboration, we are able to re-imagine these brands from start to finish for both Chinese and global consumers.”
“This partnership is a role model within the toy industry bringing together the strength of both companies in the areas of product design, animation development and channel management,” said Mr. CaiDongqing, Chairman of Alpha Animation.
About Alpha Animation
Guangdong Alpha Animation and Culture Co., Ltd. (Alpha Animation: stock code: 002292) is the first listed animation manufacturer as well as one of the most powerful animation and culture industrial group corporations in China. The company has successively been rated as "New and High-tech Enterprise," "First Group of Model Unit of Intellectual Property Nationwide" and "Key Animation Manufacturer Nationwide." In 2011, it was rated as "Top 30 Cultural Enterprises in China." Ever since its establishment in 1993, Alpha Animation has been sticking to the principle of development based on innovation and created the unique and new pattern of creative industry of "interactive growth of culture and industry." As the only animation enterprise which has an omni-media industrial chain in operation in China, Alpha Animation has extended its business to the fields of creation of animation, media disseminating, image authorization, product manufacture and marketing.
Hasbro, Inc. (NASDAQ: HAS) is a branded play company providing children and families around the world with a wide-range of immersive entertainment offerings based on the Company's world class brand portfolio. From toys and games, to television programming, motion pictures, digital gaming and a comprehensive licensing program, Hasbro strives to delight its global customers with innovative, well-known and beloved brands such as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY, G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The Company’s Hasbro Studios develops and produces television programming for markets around the world. The Hub TV Network is part of a multi-platform joint venture between Hasbro and Discovery Communications (NASDAQ: DISCA, DISCB, DISCK), in the U.S. Through the Company's deep commitment to corporate social responsibility, including philanthropy, Hasbro is helping to build a safe and sustainable world for future generations and to positively impact the lives of millions of children and families every year. It has been recognized for its efforts by being named one of the “World’s Most Ethical Companies” and is ranked as one of Corporate Responsibility Magazine’s “100 Best Corporate Citizens.” Learn more at www.hasbro.com.
© 2012 Hasbro, Inc. All Rights Reserved.
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Source: Hasbro, Inc.