Walt Disney (DIS) and Pixar's "Toy Story 4" is one of the most highly anticipated summer movie blockbusters this year, and Mattel (MAT) is looking to capitalize with an expanded deal with the movie production companies.
Mattel announced Wednesday that it expanded its global licensing agreement with Disney that will span new titles and develop toys inspired by characters from Pixar film properties including "Coco," "Finding Nemo," "Monsters, Inc.," and "The Incredibles."
"Pixar is a legendary animation studio renowned for creating some of the most iconic and diverse sets of characters," said Janet Hsu, chief franchise management officer of Mattel. "We look forward to bringing these characters to children of all ages so they can create their own adventures and stories through play."
The move comes ahead of Pixar's highly anticipated release of "Toy Story 4," which opens in theaters on June 21.
Shares of Mattel were rising 2.3% to $12.47 on Wednesday.
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