Knickerbocker Buying Into 2 Firms

L.L. Knickerbocker Co. Inc. said Monday it has signed a letter of intent to buy 25% stakes in two California companies that develop and distribute self-heating packaging and container products.

Knickerbocker, a collectibles maker, said it agreed to exchange warrants for 25% of the outstanding shares in Insta-Heat Inc. of San Diego and Self-Heating Container Corp. of Poway.

Insta-Heat owns patents for the manufacture of self-heating packaging and container products. Self-Heating Container owns the rights to manufacture, distribute and market the Insta-Heat products.

Knickerbocker chief executive Louis L. Knickerbocker would become a director of both corporations.

Terms of the five year License Agreement, with an additional five-year option, provide that LLK will pay a royalty on sales to SHC and will use its best efforts to identify a celebrity spokesperson to assist in developing and marketing the “Insta-Heat” products.