Matchbox is a toy brand introduced by Lesney Products in 1953, and is now owned by Mattel, Inc, which purchased the brand in 1997. The brand was given its name because the original die-cast "Matchbox" toys were sold in boxes similar to those in which matches were sold. The brand grew to encompass a broad range of toys, including larger scale die-cast models, plastic model kits, slot car racing toys, and action figures. Universal Toys purchased most of Lesney's assets and acquired what is now present-day Matchbox and founded Matchbox International Ltd. to continue production in 1982 when Lesney Products closed down. In the 1990s, Tyco Toys acquired Matchbox from Universal Toys in 1992.