Mattel Agrees To Acquire Pleasant Company

Posted on June 15, 1998

Mattel, Inc. and Pleasant Company announced an agreement by which Mattel will acquire the Wisconsin-based direct marketer of books, dolls, clothing, accessories and activity products bearing the American Girl brand for $700 million. Mattel also announced that Pleasant Rowland, president and founder of Pleasant Company, will become vice chairman of Mattel, Inc. and will serve on Mattel's board of directors.

"This is a perfect strategic fit," Jill Barad, Mattel's chairman and chief executive officer, said. "In addition to acquiring a blue chip brand, we will benefit from Pleasant Company's state-of-the-art direct marketing operation, and their expertise in integrating books and products -- a competency that can be shared with other Mattel brands," she said. "And through Mattel's global network we can adapt the American Girl concept to be relevant to girls all around the world.

The American Girls Collection, Pleasant Company's flagship product line, integrates books, dolls and accessories designed to give girls ages seven and up an understanding of American history and foster pride in the traditions of growing up an American girl. The American Girl brand also includes: American Girl magazine, a bimonthly publication with 700,000 subscribers; the American Girl of Today, a line of dolls, accessories and writing journals that reflect the individuality of girls today; A.G. Gear, contemporary clothing and lifestyle accessories; a list of best-selling American Girl advice and activity books; and Bitty Baby, a line of baby dolls and board books designed for girls ages three and older.