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MATTEL ACQUIRES 60 PERCENT INTEREST IN NEW ZEALAND TOY COMPANY

 LOS ANGELES, June 16 /PRNewswire/ -- Mattel Inc. today announced that it has acquired a 60 percent interest in Croner Toys Ltd., a leading toy marketer and distributor based in Auckland, New Zealand. Mattel has been Croner's largest supplier of toys for the New Zealand marketplace since 1989.
 "Expansion of our international business is a principal company objective," said Lindsey Williams, president, Mattel International, in making the announcement. "New Zealand represents one of the key countries in our strategy of creating a Mattel marketing network in the Asia Pacific basin."
 Croner Toys Ltd. will continue to be run by Managing Director John Couch and Bill Fenton, marketing director, who will each retain a 20 percent stake in the company.
 Established in 1950, Croner Toys Ltd. also distributes products manufactured by Video Technology, Tomy, Imperial and Epoch, among others.
 Mattel Inc. reported net sales of $1.85 billion for 1992, half of which was generated outside of the United States. With headquarters in El Segundo, Calif., Mattel has offices and facilities in 30 foreign countries and sells its products in more than 100 nations throughout the world.
 -0- 6/16/93
 /CONTACT: Donna Gibbs of Mattel, 310-524-3524/


CO: Mattel Inc.; Croner Toys Ltd. ST: California IN: HOU SU: TNM

JB-JL -- LA006 -- 2575 06/16/93 11:30 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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