Hasbro signs major deal for growth in China
SHANGHAI, China and PAWTUCKET, R.I. — Hasbro has entered into a partnership with Alpha Animation, a toy and entertainment company in China, to form a Chinese joint venture company for the co-development of toys and games.
If approved, the joint venture will focus on developing toys from Alpha's popular Blazing Teens brand. A brand from Hasbro’s global portfolio also will be selected for development. Hasbro and Alpha Animation will in turn collaborate to develop these brands for China and global markets.
“This long-term, strategic partnership will marry Hasbro’s global capabilities in both merchandise and television programming with Alpha Animation’s expertise and reach in entertainment, including television programming and toy distribution within China,” said David Hargreaves, Hasbro's COO. “Through our collaboration, we are able to re-imagine these brands from start to finish for both Chinese and global consumers.”