Mattel has been awarded the worldwide master toy license for Universal’s “Jurassic World” franchise, starting next July.

Hasbro had been the master licensee for the rebooted franchise, which starred Chris Pratt and Bryce Dallas Howard, generated $1.67 billion at the worldwide box office last summer. The untitled sequel, which will be the fifth in the franchise, has been set for release on June 22, 2018.

Hasbro Chief Executive Brian Goldner disclosed Monday as part of his discussion of second-quarter earnings that his company would  lose the Jurassic license next year because Hasbro and Universal could not agree on renewal terms.

Mattel said Tuesday it will design, produce and bring to market a wide variety of toys and consumer products inspired by the franchise and its feature films, which date back to 1993.

Hasbro has the toy rights to Disney’s “Star Wars” franchise and its Marvel films while Mattel owns the toy rights to Time Warner’s DC Comics.

“We are honored that NBCUniversal chose Mattel to help bring the Jurassic World brand to life, and we look forward to developing multiple new lines of innovative, engaging toys and products,” said Chris Sinclair, Mattel’s Chairman and CEO. “Spanning three decades of sustained worldwide popularity, few entertainment properties have so successfully captured the collective imagination of millions of fans around the world, and we are delighted to be a part of this truly evergreen franchise.”

Mattel’s license rights for the “Jurassic World” franchise include action figures, play-sets, vehicles, games, plush, role-play, preschool, and activity toys. It said initial products will be hitting shelves in early 2018.

Vince Klaseus, president of NBCUniversal Brand Development, said in a statement, “We are looking forward to collaborating with Mattel and broadening Jurassic World products worldwide. The appetite for the franchise globally is stronger than ever with consumers wanting more.”

“Jurassic World ” is the fourth-highest-grossing film of all time. Pratt and Howard will return for the sequel for Universal Pictures and Steven Spielberg’s Amblin Entertainment with Frank Marshall again producing.

The film will be written by “Jurassic World” director Colin Trevorrow, and Derek Connolly. Spielberg will be joined by Trevorrow as executive producer.