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Contact:
Tracy Dudkiewicz
Patch Products, Inc.
1400 E. Inman Pkwy.
Beloit, WI 53511
(800) 524-4263 x 222
tracyd@patchproducts.com |
February 2, 2004
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Patch Products Announces Sale of
Three Brands
Beloit, Wis. -- Patch Products Inc., a leading manufacturer and marketer of family entertainment products, announces that effective February 2004, ownership of Patch's rights in the brands Mad Gab®, TriBond® and Blurt® will be sold to Mattel, Inc. of El Segundo, CA.
"We see this as a positive opportunity for our future," says Fran Patch, CEO, Patch Products, Inc. "These brands have been good to us. They have helped us penetrate the retail marketplace and position our company as a key player in the industry. However, we feel this is the right time to sell them, and concentrate on our other two dozen brands and the new growth we have in product development."
With the sale, there will be few changes in the day to day business at Patch. "The sale will allow us to use our current resources to concentrate on some of our new and promising brands, as well as develop new products," says Patch. "We look forward to introducing award-winning products for families to enjoy for years to come."
Many of the new products for 2004 will be showcased at Toy Fair in New York City, February 15-18, 2004.
Patch Products, headquartered in Beloit, Wis., is a leading manufacturer and marketer of family entertainment products. Board games, card games, puzzles and foam sports toys are the core product lines. Visit www.patchproducts.com
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