Mattel, Inc. will continue to be the toy licensee for Disney Pixars ‘Cars’ franchise, courtesy the extension of a prior relationship with Walt Disney Co Consumer Products division.
As per the agreement, the toy manufacturer maintains its exclusive rights to manufacture, market and distribute toys and products based on ‘Cars’ franchise across the globe. ‘Cars 3’ is scheduled to be released in June, 2017.
Commenting on the development, Christopher Sinclair, chairman and CEO of Mattel said, “We are very pleased that Disney Consumer Products has once again chosen Mattel to help bring its iconic Cars franchise and characters to life for children around the world.”
"Disney and Mattel have enjoyed an outstanding partnership for nearly 60 years, and we are thrilled to see the relationship continue in such a meaningful way," he added.
Pleased over the agreement, Leslie Ferraro, co-chair, Disney Consumer Products and Interactive Media, and President, Disney Consumer Products asserted, " We're delighted to continue working with Mattel on this important franchise. They are the perfect partner to extend Pixar's storytelling with an innovative and engaging toy line for Cars 3.”
For almost a decade, Pixar's Cars has thrilled audiences and connected with families through its story of friendship and the excitement of the open road.
"We're delighted to continue working with Mattel on this important franchise. They are the perfect partner to extend Pixar's storytelling with an innovative and engaging toy line for Cars 3," Ferraro further added.