Mattel Inc. has won back the rights to produce toys based on The Walt Disney Company’s lineup of iconic Disney princesses and “Frozen” characters. Hasbro was previously the owner of the licensing deal, which it took over from Mattel in 2016.

The multiyear global licensing pact will allow Mattel to develop lines of toys for Disney Consumer Products, Games and Publishing, including fashion dolls, small dolls and figures. The collection drops early in 2023.

Under the new agreement, Mattel will develop dolls based on “Frozen” and the Disney Princess brands, including “Aladdin,” “Beauty and the Beast,” “Brave,” “Cinderella,” “The Little Mermaid,” “Mulan,” “Pocahontas,” “The Princess and the Frog,” “Sleeping Beauty,” “Snow White and the Seven Dwarfs,” “Tangled,” as well as the live-action versions of “The Little Mermaid,” “Aladdin,” “Beauty & the Beast,” “Cinderella” and “Mulan,” and the Disney Plus “Moana” and “Tiana” TV series.

Since 2018, Mattel has made winning back the Disney Princess and “Frozen” toy licenses a key priority and sees its pivot in strategy to an IP-drive toy company as what led to its success in regaining the rights. The return of the Disney Princess and “Frozen” licensing arrangement builds on the existing licensing relationship between Mattel and Disney, which currently consists of toy rights for Pixar Animation Studio’s “Toy Story” and “Cars” franchises, and the upcoming “Lightyear.”

Mattel stock was up 6.63% in pre-market trading Wednesday on the heels of the announcement.

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“We are incredibly proud to welcome back the Disney Princess and Frozen lines to Mattel,” Richard Dickson, Mattel’s president and chief operating officer, said Wednesday. “As the worldwide leader in dolls, we look forward to bringing our unique Mattel Playbook approach to brand management, product and marketing expertise, and unrelenting attention to detail and quality to create innovative and inspiring lines for these iconic stories and characters.”

Stephanie Young, president of Disney Consumer Products, Games and Publishing, added: “The courage and compassion found throughout our Disney Princess and Frozen stories and characters continue to inspire fans around the globe. By furthering our longstanding relationship with Mattel, we look forward to expanding the worlds of Disney Princess and Frozen, introducing an innovative new era of these beloved franchises through captivating products and play opportunities.”

The Wall Street Journal was the first to report the news that Mattel had won back the Disney Princess and “Frozen” toy licensing deal.