Kings Road Entertainment, Inc., Hollywood, CA, has signed a letter of intent to buy cataloger Animal Town Inc. The owners of Animal Town will receive just over $50,000 in cash, and around 97,000 shares of stock.
Animal Town, which has not published a catalog since 1998, has fulfilled orders based on prior catalog distribution. The company specializes in toys, games, and crafts rooted in cooperative play, animal protection, and environmental awareness.
Kings Road will re-launch the catalog in Fall 2000 with an initial mailing of 400,000 catalogs, which are scheduled to drop on Sept. 1.
“There is a wonderful opportunity to expand upon an existing mailing list database of 76,000 customer names,” said Kings Road president David W. Dube. The company also plans to develop and enhance the Web site (http://www.animaltown.com) it acquired in the transaction.
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