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Mattel to annex Tyco

Published on .

EL SEGUNDO, Calif. -- Mattel said it will purchase Tyco Toys, third largest U.S. toymaker, for $755 million. The deal would add Mattel Matchbox cars, View-Master and Magna Doodle toys to its own Hot Wheels and Barbie franchises. The move will put Mattel firmly into the No. 1 spot among toy marketers, ahead of Hasbro. Mt. Laurel, N.J.-based Tyco's estimated $25 million ad account is handled by Bozell, New York.

Copyright November 1996, Crain Communications Inc.

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