Action Performance Signs Exclusive Merchandise Licensing Agreement With Rick Rathbun's Team Marines Racing
26 May 2000
Action Performance Signs Exclusive Merchandise Licensing Agreement With Rick Rathbun's Team Marines RacingPHOENIX--May 26, 2000--Action Performance Companies Inc. Friday announced it has signed a two-year exclusive merchandise licensing agreement with Busch Grand National Rick Rathbun's Team Marines Racing.
Under the terms of the agreement, Action Performance obtains the rights to market, promote, distribute and sell licensed merchandise for Rick Rathbun Team Marines' driver Hank Parker Jr. and Rick Rathbun's Team Marines Racing through the end of 2001. As part of this agreement, Hasbro will also produce Rick Rathbun's Team Marines merchandise.
Die-cast and apparel will be coming available over the next several weeks. The agreement is a significant demonstration of Action's ongoing efforts to expand product offerings beyond Winston Cup and strategically include Busch Grand National in the company's emerging business initiatives.
"Hank Parker Jr. and Rick Rathbun's Team Marines Racing are exciting additions to the Action Performance family, and we're proud to be working with Hank and Rick Rathbun," said Fred Wagenhals, Action chairman, president and chief executive officer. "We have applied our licensing and marketing expertise with great success in NASCAR, and we are continually pursuing opportunities to expand our business across all forms of racing worldwide."
Wagenhals added, "We are targeting a whole new audience with the military, while helping to support the Busch Grand National Series and expanding our own business core. It's really a win-win situation."
In addition to promoting Busch Grand National drivers through trackside merchandising, RCCA Club memberships, and online exposure through goracing.com and www.teammarines.com, Rick Rathbun's Team Marines Racing products will be available at military bases worldwide. Apparel will be available beginning at the end of June, and die-cast will be available at the end of the summer.
For more information, please contact Rick Rathbun's Team Marines Racing at P.O. Box 190, Piney Flats, TN 37686, www.teammarines.com , or call Action Performance at 800/342-7612.
"These are really exciting times for Rick Rathbun's Team Marines Racing, Hank Parker Racing and Hank Parker Jr.," Rathbun said. "We are very eager to work together with Action Performance Companies. Action has proven that they are the industry leader in motorsports merchandising and our team is very confident that this partnership will be able to bring our program directly to our loyal fans."
Action Performance Companies Inc. is the leader in the design, marketing, promotion and distribution of licensed motorsports merchandise. Its products include a broad range of motorsports-related die-cast car replica collectibles, apparel, souvenirs, and other memorabilia.
The company markets and distributes products through a variety of channels, including the Racing Collectables Club of America (RCCA), online at goracing.com, trackside at racing events, mass retail department stores, and a worldwide network of wholesale distributors and specialty dealers.
This press release contains forward-looking statements. The company's actual results could differ materially from those set forth in the forward-looking statements.
Factors that might cause such a difference include, among others, competitive pressures, acceptance of the company's products and services in the marketplace, the company's ability to implement successfully its Internet strategy, the company's ability to integrate successfully acquired businesses, and other risks discussed in the company's Form 10-K for 1999, dated Sept. 30, 1999, which is on file with the U.S. Securities and Exchange Commission.