BOCA RATON, Fla.--(BUSINESS WIRE)--Basic Fun!, the Florida-based toy and novelties company, today announced that it has an agreement in principle with global play and entertainment company Hasbro, Inc. (NASDAQ:HAS), for the Tonka brand. The multi-year deal would expand the licensing relationship between the two companies, which already includes Pound Puppies, Lite-Brite, Lincoln Logs, Tinker Toy, My Little Pony Classic, Koosh, and Weebles, among others. Basic Fun’s new line of Tonka trucks is expected to launch at retailers worldwide in Fall 2020 and will feature the classic steel Tonka Trucks, die-cast range, and traditional plastic lights and sounds products.
The company plans to launch a dynamic marketing campaign aimed at kids and gift givers focusing on getting kids out to play and having fun in the fresh air. The new vehicles and playsets will have innovative elements to appeal to kids, yet will also stay true to the nostalgic ‘Tonka Tough’ brand legacy generations of fans have come to trust and love for over seventy years.
“Today’s kids are at risk of forgetting how to play with anything but a smart phone, which is why we are so thrilled to be taking on the iconic Tonka toy line that is all about going outside to play and encouraging kids to use their imaginations,” said Jay Foreman, CEO of Basic Fun! “Tonka has always been known for the biggest and best quality tough trucks and toy vehicles in the market, and we plan to make sure consumers know Tonka is the ‘go to’ brand in this category.”
“We are excited about bringing one of our jewels to a trusted partner like Basic Fun!,” said Casey Collins, General Manager and Senior Vice President, Entertainment and Licensing, Hasbro. “For years, the company has become an important collaborator of ours, effectively managing many of our classic vault brands. Tonka is perhaps the biggest of them all, and we know the program is in great hands with the Basic Fun! team and their vision to reimagine the brand for today’s kids.”
Tonka was created in 1946 by a gardening supply company in Mound, Minnesota called Mound Metalcraft, which later become Tonka Toys Incorporated. The steel toy trucks became an iconic rite of passage gift for boys. At one time, Tonka was the world largest manufacturer of trucks! Over the years, the company was purchased by Hasbro and the company, along with its licensees, have manufactured the product line since 1991.
About Basic Fun!™
Basic Fun! is a dynamic global marketer of classic and innovative children’s entertainment products for today’s kids. The company plays in many core toy categories including classic heritage toys, novelty collectibles, building toys, youth electronics, plush, vehicles, preschool and activity/discovery. Basic Fun! is best known for product lines such as: K’NEX, Lite-Brite, Fisher Price Classics, Mash’ems, Cutetitos, My Little Pony Classics, Ant Farm, Arcade Classics and many more! For more information, please visit www.BasicFun.com.
About Hasbro
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, the Company is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 13 on the 2019 100 Best Corporate Citizens list by CR Magazine, and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past eight years. Learn more at www.hasbro.com, and follow us on Twitter (@Hasbro) and Instagram (@Hasbro).
