NEW YORK -- July 14, 2004 -- Michael Wm. O'Gorman, M.B.A., J.D., Chairman of the Board and CEO of Blue Ribbon International, Inc. today announced the signing of a Letter of Intent with Marx Toys & Entertainment, Corp. to negotiate a merger of all assets and operations of the two Companies.
Mr. O'Gorman stated, "We are excited about the financial and marketing opportunities offered through a merger with Marx Toys & Entertainment. The Marx name is legendary in the toy industry worldwide. In fact, for well over 50 years, Marx dominated the industry through the imaginative mechanical toys and the famous Western playsets that we all grew up with."
Mr. Robert P. Bambery, President of Marx Toys & Entertainment, Corp., stated, "Today's announcement is a tremendously positive step forward in the continued evolution and development of Marx Toys and Blue Ribbon International. It is great news for our retail customers, our employees, our shareholders, and the tens of millions of Americans who are avid collectors. This is a unique opportunity to bring together two growing companies that have excellent, highly-marketable assets and build a financially stronger combined operation."
The story of Marx Toys is best summed up by the plaque that honors founder Louis Marx at the Toy Hall of Fame in New York City. It reads:
Nicknamed the "Toy King of America" and the "Henry Form of the Toy Industry," Louis Marx established the Louis Marx Toy Company in 1921. By 1950, it was the world's largest manufacturer. Marx' general philosophy was to offer quality at the lowest possible price, and he believed that there were no new toys, only "old toys with new twists." His popularity with buyers meant that he had virtually no need for salesmen or advertising. Marx was also first to mass-produce mechanical toys in the U.S. and many of his wind-ups are valued collectors' items.
The assets of Marx Toys & Entertainment include thousands of the original steel molds for such Marx Toys classics as...- Fort Apache and Rin-Tin-Tin
- Alamo and Davy Crockett
- Cowboys and Indians
- Lone Ranger
- Rifleman
- Roy Rogers
- Custer's Last Stand
- Civil War Sets
- Wagon Train
- Johnny West Ranch/Roundup
Marx Toys & Entertainment, Corp. manufactures and markets interactive toys, reissued collectible toys, classic games and playsets. Marx's vintage originals are prized collectibles among hobby enthusiasts. Marx branded toys are sold at toy and hobby retailers across the U.S. and have a rich history of more than 75 years in the industry. To read more on this history, visit www.marxtoys.com.
Blue Ribbon International is 'A New Generation Lifestyle Company' engaged in consumer marketing, management, licensing, and franchising. Its operating businesses address the demands, spending habits, priorities and concerns of contemporary Americans. The Company operates through four divisions, HealthWorks, Hospitality, Entertainment and Leisure. Through these divisions, management finds products and services that address the changing tastes and concerns of consumers. The Company is listed on the "Pink Sheets" in the over the counter market and may be found on most Internet search engines using the symbol BLRB.
