Walt Disney Co. announced on Wednesday that it reached a deal to have Hasbro Inc. manufacture its Disney Princess and “Frozen” lines of dolls, a blow to current manufacturer and L.A. toy maker Mattel Inc.
The move by the Burbank entertainment and media company gives Hasbro, based in Pawtucket, R.I., another popular Disney toy franchise. Hasbro already makes toys based on characters from “Star Wars” and Marvel Entertainment LLC, owned by Disney. Financial terms of the deal, which begins in 2016, were not disclosed.
Hasbro will have global rights, except for Japan, to produce dolls based on characters from such Disney films as “Cinderella,” “Beauty and the Beast,” and “The Little Mermaid,” as well as for “Frozen,” which grossed more than $400 million in domestic box office since its release last year, the fourth highest for an animated film.
“Hasbro’s focus on quality, innovation, and market-leading products designed for today’s consumer, makes them the best choice to grow one of the world’s most popular girls brands,” said Disney Consumer Products President Bob Chapek in a statement.
Mattel, in El Segundo, will continue to sell “Frozen” merchandise through the end of 2015, a company spokesman told the Associated Press. Disney and Mattel still have deals with other toy lines, including those tied to the “Cars” and “Planes” movies.
Shares of Disney closed up $1.14, or more than 1 percent, to $89.45 on the New York Stock Exchange.