The company will become the distributor of toys in the UK and Ireland of the wildly popular brand.
Companies: Character Group plc
Character Group (LON: CCT) has today announced it will become the master toy distributor in the United Kingdom and Ireland for the long-standing Pokémon brand.
The agreement between Character and the global master toy licensee, Wicked Cool Toys based in the United States, will see action figures, playsets, plush, role play and other toys based on the hit Pokémon animated series, join Character's portfolio from summer 2018.
The news sent Character shares up 7%.
Joint MD of Character Group Jon Diver commented on the news, saying:
"We are thrilled to be adding such an iconic and powerhouse property as Pokémon to Character's product line up. Toys are a major part of the Pokémon brand and bring a tangible dimension to fun for kids. The partnership with Wicked Cool Toys spells exciting times ahead and gives Character a tremendous opportunity to add further breadth and depth to our product range."
Pokemon basked in a revival in popularity last year with the release of its app-based game, Pokemon GO.
Character Group's share price has ridden the wave of a number of ebbs and flows this year, and currently trades at 515p with the small boost in today's price. The Group's market cap is £100m and shares trade at a PE ratio of 9x, well below the industry median of 16x.
