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Subject: JVN

Jazwares Secures Global Master Toy Rights for a new line extension for Squishmallows® called Squishvilletm and forms strategic partnership with Kellytoy to Distribute Squishmallows® Products within Select Territories

SUNRISE, Fla., Feb. 21, 2020 /PRNewswire/ -- Jazwares LLC, a leading global toy, entertainment and musical instrument company and Kellytoy Worldwide, Inc., one of the world's most influential manufacturers and distributors of plush products, announced today that they have formed a strategic partnership.  Pursuant to this partnership, Jazwares will distribute Kellytoy's products in select territories and has granted to Jazwares master global toy rights to build a new line extension entitled Squishvilletm, which will include mini collectible plush, environments, playsets, vehicles, and related accessories.

"We are so excited to be working with Kellytoy, which has built the wonderful world of Squishmallows® that has become a global phenomenon, having already sold over 50 million units of plush in the past 2 years! The whimsical nature of the brand coupled with the magical softness of the Squishmallows® characters will be seen in Jazwares' collectible plush toy line extension," said Judd Zebersky, Jazwares CEO and President. "Leveraging Kellytoy's reputation for quality with Jazwares' global footprint will delight fans all around the world."

"This partnership with Jazwares couldn't be a better fit," added Kellytoy CEO Jonathan Kelly. "It's a win-win for both companies, as Jazwares and Kellytoy each understand that by working together we can collectively develop Squishmallows® to become a property that will stand the test of time.  Squishmallows® products as well as the new items under the umbrella of Squishvilletm will complement Jazwares' existing toy lines; and Jazwares' global distribution strength will enable the Squishmallows® brand to penetrate new markets."

Jazwares will market the Squishmallows® and Squishvilletm brands through its broad and deep global distribution channels, which include virtually every conceivable market segment, including mass market, gift, specialty and toy retailers, party and pet stores, supermarkets, discount stores, drug stores and amusement parks.

Note to media: samples, high-res images available upon request.

About Jazwares LLC
Jazwares, a subsidiary of Alleghany Capital Corporation, is a global leader in consumer products including toys, plush, collectibles, musical instruments, and consumer electronics. With over 20 years of design, development, and manufacturing expertise, Jazwares is an award-winning company with a progressive focus on identifying new trends and transforming them into high-quality products for consumers of all ages. Jazwares, which is headquartered in Sunrise, FL, has offices around the world and sells in over 100 countries. Jazwares' mission is to entertain through the creation of innovative product. The company's portfolio features a variety of dynamic, wholly-owned brands along with leading global licenses, and includes acquisitions First Acttm, Russ Berrietm, Applausetm, and Zag Toystm. For more information about Jazwares, please visit www.jazwares.com.

About Kellytoy
Kellytoy manufactures a portfolio of award winning everyday and seasonal plush products that includes its best-selling Squishmallowstm, Kellybaby as well as a pet products line called Wags & Purrstm. Over the past three decades, Kellytoy has positioned itself to meet the needs of its customers in mass market, gift/specialty/toy retailers, party and pet stores, supermarkets, discount stores, drug stores, amusement parks and even crane machines in arcades the world over. Kellytoy also makes products in collaboration with leading classic characters, including major licenses, as well as blockbuster theatrical franchises. www.kellytoy.com

This release contains disclosures which are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as "may," "will," "expect," "project," "estimate," "anticipate," "plan," "believe," "potential," "should," "continue" or the negative versions of those words or other comparable words.  These forward-looking statements are based upon Jazwares' current plans or expectations and are subject to a number of uncertainties and risks.  These statements are not guarantees of future performance, and Jazwares has no specific intention to update these statements.  As a consequence, current plans, and anticipated actions may differ from those expressed in any forward-looking statements made by Jazwares or on Jazwares' behalf.

SOURCE Jazwares

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