Hasbro (HAS) and toy company Basic Fun! have entered a global licensing agreement, Basic Fun said Monday afternoon.

Per the deal, Basic Fun will manufacture and distribute Hasbro's Stretch Armstrong toys, both the classic design and a reimagined version, the company said. It is also partnering with key entertainment brands to create licensed Stretch Armstrong-inspired action figures.

The new line of Stretch Armstrong toys is set to hit stores worldwide this fall, the company said.

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