|One World Doll Project, Tonner Doll Company merge to become Tonner One World|
|Thursday, 03 December 2015 17:29|
One World Holdings, Inc. and Tonner Doll Company, Inc., announced Dec. 3, 2015, that their Boards of Directors have approved a definitive agreement for One World Holdings' subsidiary, The One World Doll Project, to merge with Tonner Doll. The agreement was entered into Dec. 2. Following the closing of the merger, the combined business will change its name to Tonner One World.
The announcement followed the success of the companies' first collaboration, the Prettie Girls! Tween Scene collection, which launched at approximately 3,000 Walmart stores nationwide in October. The merger will be a stock-for-stock transaction in which 100 percent of Tonner Doll Company's shares will be converted into an equal number of shares of One World Holdings (OTCQB: OWOO). Under the agreement, all assets, licenses, and contracts of both companies will beome the property of Tonner One World, which will remain a wholly owned subsidiary of One World Holdings. The combined organization will have approximately 25 employees across Texas, New York, and California.
"We are honored to announce that we are merging with the acclaimed Tonner Doll Company and look forward to sharing their depth of experience and manufacturing relationships," said Trent T. Daniel, the founder of One Word Doll Project. "We are here to build a very big company. Together, we are going to be, and have already started to become, the company that develops a product line that looks like America. That is the bottom line."
"I am thrilled that Tonner Doll Company, a 25-year-old venture, and The One World Doll Project, an innovative and energetic team, are merging," said Robert Tonner, founder and president of Tonner Doll Company. "In two years, The One World Doll Project has made tremendous strides in the marketplace, and I am excited about where the new Tonner One World will go."
"The combination of The One World Doll Project and Tonner Doll Company creates an exciting opportunity for our company, for our customers, and for our shareholders," said Corinda Joanne Melton, One World Holdings' president and chief executive officer. "Robert Tonner and his team have created a multi-million-dollar collectors doll company that, combined with One World, has the foundation for massive future growth, new product development and maximization on current licenses."
Management of both companies believe that the new toy company, Tonner One World, which will be led by President Robert Tonner, CEO Corinda Joanne Melton, and COO Jack Kralik, will generate multiple benefits, including an accelerated deployment of products into big-box retail stores and innovative ventures into ancillary properties such as character licensing, children's television programming, apparel, accessories, and books.
Tonner One World will utilize the complementary creative abilities of Robert Tonner and Stacey McBride-Irby, a former Mattel designer who developed Mattel's first authentically designed African-American dolls prior to launching the One World Doll Project's Prettie Girls! collections. Tonner and McBride-Irby will develop new children's products as well as uphold Tonner's legacy of producing high-end, expertly crafted collectible dolls.
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