Toy and consumer products manufacturer JAKKS Pacific Inc (NASDAQ: JAKK) announced a multi-year North America contract extension with Stanley Black & Decker, Inc (NYSE: SWK), a power tools manufacturer.
The financial terms of the deal were not disclosed.
Under the deal, JAKKS will continue to design, manufacture, market, and sell Black+Decker toy work benches, tool sets, tools, housewares, and kitchen products in the U.S., Canada, and Mexico.
JAKKS has been a toy partner for Black+Decker for more than 16 years.
“Children want to emulate what they see their parents do at home. With families doing home improvements using the real Black+Decker tools, kids are even more eager to imagine their own improvement projects with the toy Black+Decker tools,” said Craig Drobis, Senior Vice President, Marketing, JAKKS.
Price action: JAKK shares are trading lower by 1.01% at $10.79 on the last check Friday.
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