Toymaker and Construction Equipment Leader Agree to Terms Through 2021
Toy State, a toy industry leader and innovator in licensed and customized ‘lights and sound’ and radio-controlled (R/C) toys, and Caterpillar, the world’s leading manufacturer of construction equipment, have agreed to a 4-year extension of their licensing partnership. The term of the agreement extends through 2021 and grants Toy State rights to continue to design, manufacture and distribute their Cat® product lines through major retailers globally.
Toy State’s partnership with Caterpillar began in 2002 and is the toy company’s longest running licensing program. During that time, their line has expanded significantly from an initial ‘lights and sound’ range of construction machines to a robust offering featuring Cat toys within role play, outdoor, preschool, construction, diecast/steel and radio-control retail categories. This contract extension is a testament to success of the program, developed through the innovation and quality of Toy State’s Cat products, as well as the strength of the Caterpillar brand. Interbrand ranks Caterpillar #82 in its 2016 Best Global Brands rankings, surpassing the value of powerhouse brands such as Xerox (#84), John Deere (#91), Shell Oil (#92), and Ralph Lauren (#98).
“It’s with great excitement that we extend our relationship with Caterpillar,” said Toy State president Andy Friess. “This brand has been a key to the success, not only of Toy State, but of the toy vehicle category worldwide. We look forward to continuing to fortify our category leadership position through this great partnership.”
“Toy State has been a wonderful partner for our products,” said Kenny Beaupre, Brand Advocacy & Licensing Manager at Caterpillar. “Their commitment to innovation and quality has been an excellent representation of our brand and company. We are excited to continue bringing fun and excitement to children and Cat brand fans, worldwide, through this product line for many more years to come.”
The licensing extension applies to all toy categories included in Toy State’s agreement.
About Toy State
Since 1984, Toy State has been an innovator and industry leader in the manufacture of ‘lights & sound’ and R/C toys. Toy State’s portfolio features their flagship Road Rippers® and Nikko™ brands. The company also boasts Hot Wheels™, Barbie™, DRL™, Teenage Mutant Ninja Turtles®, Thomas & Friends™, DC Comics™ and WWE® lights & sound and radio controlled vehicles, as well as Cat® and Cat® Preschool construction toys. Working with the world’s leading automakers, entertainment properties and lifestyle brands, and Caterpillar, the leading manufacturer of construction equipment, Toy State products provide hours of enjoyment for kids of all ages.
