Grand Toys to Distribute Walt Disney Records Product in Canada
Grand Toys to Distribute Walt Disney Records Product in Canada
Grand Toys International, Inc. announced today that it has entered into an agreement to act as the Canadian distributor -- through current Walt Disney Records' licensee Universal Music -- at selected accounts in Central and Eastern Canada, for Walt Disney Records products. The agreement allows Grand Toys (through Universal Music) to distribute and sell storyteller releases from Walt Disney Records.
The products included are Read Alongs, Sing Alongs, Read & Sing Alongs, plus the entire Walt Disney Records catalog of soundtracks and song albums including product from Disney's much-loved characters such as Mickey Mouse and Winnie the Pooh.
For 45 years, Walt Disney Records has set the standards as a leader in family audio entertainment -- with a broad and diverse selection of the finest repertoire, not only for children, but for every age group.
The Walt Disney Records catalog includes beloved and timeless musical memories from Walt Disney Pictures' films such as "Snow White and The Seven Dwarfs," "Pinocchio," "Mary Poppins," "The Little Mermaid," "Beauty and the Beast" and "The Lion King," as well as Disney/Pixar animated films such as the box office hit "Monsters, Inc." The diverse catalog includes recordings from such internationally renowned artists as Celine Dion, Elton John, Phil Collins, Sting, Louis Armstrong, Peggy Lee and Randy Newman.
In March of 1999, Walt Disney Records Canada and Universal Music entered into a distribution agreement for all Disney music-related products.
Universal Music Group is the world's leading music company with wholly-owned record operations or licensees in 63 countries around the world. Its businesses also include Universal Music Publishing Group, one of the industry's largest global music publishing operations. Universal Music Group is a unit of Vivendi Universal, a global media and communications company.
Ian Bradley, President and CEO of Grand, commented, "We are very excited to be working with Walt Disney Records. These products are a natural complement to Grand's current product offerings."
Founded in 1960, Grand Toys International, Inc. is a premier licensee and distributor of a wide variety of toys and ancillary items in Canada and since January 1999, a supplier of proprietary products in the United States.
Joe Etter, VP of Walt Disney Records Canada, adds: "We are thrilled about this new agreement with Grand Toys as it lays the groundwork for a stronger presence for our storyteller and music product at mass, specialty and gift retail outlets in Central and Eastern Canada."
Walt Disney Records is part of The Buena Vista Music Group, which also includes Hollywood Records, Mammoth Records, Lyric Street Records and Disney Music Publishing. The Buena Vista Music Group is the umbrella for the record and music publishing businesses of The Walt Disney Company and its subsidiaries.
This news release contains certain forward-looking statements and potential benefits from the Company's acquisition strategy, which are within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risk and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions and the financial strength of the retail industry, particularly for toy and toy-related products; the level of consumer spending for such products; the effect of currency translations; the ability of the Company to successfully obtain its products from suppliers; and the success of advertising, marketing and promotional campaigns.
--posted February 7, 2002
Source: Grand Toys International Press Release