MATTEL TO BUY TYCO TOYS
By Adnews Staff
Toy makers Mattel Inc. of California and Tyco Toys Inc. of New Jersey are about to become playmates. In a bid to extend its influence in the boys' toys market, Mattel has agreed to buy Tyco for the equivalent of approximately $1 billion. The deal is expected to be completed in the first half of 1997. D'Arcy, Masius, Benton and Bowles of New York handles Tyco's North American advertising, while Harrison, Young, Pesonen and Newell of Toronto does the company's media buying in Canada. Deutsch Inc. of New York creates the bulk of Mattel's ads. Ogilvy & Mather of Toronto does some of the company's Canadian creative and localizes the U.S. ads. Mattel is known for products such as Hot Wheels miniature cars and Fisher-Price toys. Tyco produces such lines as Matchbox cars and Sesame Street toys.