The One World Doll Project, a subsidiary of One World Holdings, has signed an official Letter of Intent to sell a 9.89% stake of One World Holdings stock to The Tonner Doll Company. The parties are currently finalizing details and plan to enter definitive agreements as soon as practically possible to effectuate the stock purchase.
“As an established brand that is projecting sales of $59.3 million over the next five years, we believe that investing into The One World Doll Project and its emerging, high-quality product lines is the best approach for expanding our retail presence,” Robert Tonner, CEO of Tonner Doll Company, stated in the news release. “With their recent accomplishment of securing national distribution of The Prettie Girls! Tween Scene Dolls into over 2,900 Walmart stores, One World has proven their value to us and we are certain that acquiring a substantial stake in One World at this time is the best move going forward.”
Corinda Joanne Melton, CEO of One World Holdings, gave a brief overview of The Tonner Doll Company’s reach in the toy industry, and how the new, mutually advantageous partnership will help advance the broader One World plan.
“We believe that advancing our partnership with The Tonner Doll Company will continue keep One World on the fast track to substantially increased revenues. Over the past 16 months the relationship has proven that our two companies, working together, creates a valuable alliance within the doll industry,” she said. “With The Tonner Doll Company’s 25-year track record of success, its multiple license deals with major brands such as Disney, Peanuts and 20th Century Fox coupled with One World’s current retail relationships with Walmart and Amazon.com, the company is hopeful that this alliance will create additional value as One World pursues its plan of acquisition by a major toy company within the next 18 to 24 months.”
For more information, visit www.oneworlddolls.com
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