Tyco Toys
 Tyco Industries logo | |
| Industry |
Consumer electronics Video games |
|---|---|
| Fate | Merged with Mattel |
| Founded | 1926 |
| Defunct | 1998 |
| Headquarters | Woodbury Heights, New Jersey, US |
Tyco Toys was an American toy manufacturer. Since 1997, it had been a division of Mattel, Inc.[1][2]
History
Mantua Metal Products was a Woodbury Heights, New Jersey, metalworks business founded in 1926 by John Tyler and family. In the 1930s Mantua began to manufacture HO scale model trains of die-cast metal, and became a leading hobbyist brand.
From 1942 to 1945, production of model railroad products was suspended as the company participated in manufacturing of precision measuring and mapping equipment for the U.S. Army and Navy in World War II. The company received the Army-Navy ‘E’ Award for Excellence in Production in 1945. After the war, they converted the plant back to production of model railroading equipment.
Launching in 1957, Mantua pioneered "ready-to-run" HO-scale model railroad kits under the TYCO (for Tyler Company) brand.[3] Many TYCO and Mantua die-cast products, such as steam engines, are collector's items today.
In the 1960s, TYCO changed its focus from train kits to ready-to-run trains sold in hobby shops and also added HO-scale electric racing, or "slot car" sets. The slot car range started in 1963.[3] By the 1970s, TYCO shifted sales and marketing to a consumer-oriented, mass marketing focus. Eventually the name changed to TYCO Industries, under which name the company was sold in 1970 to Consolidated Foods during an era of corporate conglomerates.[3] As a division of what became the Sara Lee Corporation, Tyco continued to grow.
By the 1980s, Tyco dominated that market in electric racing, also producing the first "slot trucks" known as US-1 Trucks, as well as the radio control category. Diversification continued with the 1989 purchase of the View-Master/Ideal Group, which brought to the company the View-Master, Magna Doodle and the Ideal Nursery line of dolls. In the 1990s, the company branched out with other toys such as airplanes, clones of Lego brand building elements (after the basic patent ran out in 1983), and Sesame Street items. It made a hit in 1991 with their Disney's Little Mermaid dolls that were released during the same period the movie came to theaters. It purchased Matchbox, a maker of model cars, in 1993.[4][5] In 1995, Tyco Preschool was named the primary toy licensee for the Children's Television Workshop. A year later Tyco Preschool launched an extensive new line based on the popular children's program, Sesame Street. When Tyco was purchased by Mattel on March 27, 1997, it was the third largest toy company in the United States. The brand survived into the early 2010s as the Mattel Tyco R/C division, while much of the Sesame Street line as well as the Magna Doodle and the View-Master was transferred to the Fisher-Price division.
The Tyco model railroad business was purchased back by the Tyler family in 1977, who revived them under the Mantua Industries brand. Tyco exited the model railroad business after the 1993 catalog. Many of the Tyco model train products were then produced by Mantua and by International Hobby Corporation (IHC). In 2001, Mantua ceased production of its model railroad lines, and sold the model railroad business to the Model Power company (now a division of MRC), which continued to sell a few items such as steam engines and freight cars as its Mantua Classics brand. In early 2014, Model Power ceased its business operations.[6]
References
- ↑ "MATTEL AMENDS ITS MERGER AGREEMENT WITH TYCO TOYS". New York Times. November 23, 1996. Retrieved March 29, 2013.
Mattel Inc., the nation's biggest toy maker, said yesterday that it had amended its $755 million merger agreement with Tyco Toys Inc. to reflect a change in the conversion of Tyco shares. A Mattel spokesman, Glenn Bozarth, said the amendment called for holders of Tyco class C shares to receive preferred Mattel shares.
- ↑ Sorkin, Andrew Ross (July 23, 1997). "Tyco Toys Goes To Mattel Roster". New York Times. Retrieved March 29, 2013.
Mattel Inc., the toy maker in El Segundo, Calif., said yesterday that as expected it had divided responsibilities for its newly acquired domestic Tyco Toys business among its three roster shops: Foote, Cone & Belding in Los Angeles, Ogilvy & Mather Los Angeles and the New York office of Young & Rubicam Advertising. The Tyco business, with billings estimated at $55 million, had been handled for three years by D'Arcy Masius Benton & Bowles Communications in New York, a unit of MacManus Group. Our decision to consolidate our advertising among our three incumbent agencies is based on our longstanding strategic partner relationships and our need to maintain the greatest possible advertising efficiencies and creative momentum, said Bruce Stein, president of Mattel Worldwide. Mattel acquired Tyco Toys at the end of March.
- 1 2 3 Train Collector magazine Issue 28 September 2013 p8 within a feature "The Integration of Model Railways and Slot Cars" by James Day and Tony Stanford. The Journal of the Train Collectors Society
- ↑ Bryant, Adam (May 7, 1992). "Tyco Toys Planning to Acquire Matchbox". New York Times. Retrieved March 29, 2013.
In a move that highlights the rough-and-tumble competition of the toy industry, Tyco Toy Inc. said yesterday that it planned to acquire the Universal Matchbox Group, which makes Matchbox miniature cars. ~. Tyco, based in Mt. Laurel, N.J., said it is buying Matchbox in part to gain its distribution network in countries where Tyco would like to expand, like Britain and Germany. Because of economies of scale, Tyco should also be able to increase Matchbox's profit margins to roughly 12 percent.
- ↑ "Tyco-Matchbox Merger". New York Times. October 7, 1992. Retrieved March 29, 2013.
Tyco Toys Inc. has completed itsacquisition[sic] of the Universal Matchbox Group.
- ↑ http://www.modelpower.com/