This year, Playmates Toys celebrates its 60th anniversary producing premiere action figures. But when I visit Playmates’ booth at the 2026 Toy Fair, I can’t help but detect a hint of disappointment in the air too. Recently, the news hit that, after nearly 40 years, Playmates lost the license to Teenage Mutant Ninja Turtles, its signature toyline which began back in 1987, when Playmates financed the first season of the original cartoon series.

Since then, Playmates has been a part of every major iteration of the Turtles, including the most recent movie Teenage Mutant Ninja Turtles: Mutant Mayhem and its various tie-ins. But, while the license runs out on Dec. 31, 2026 and shifts to Mattel, the company is planning some exciting toys before that looming date hits.

Undoubtedly, the line generating the most excitement is the TMNT x GI Joe crossover, on which Playmates partnered with Hasbro. With both properties being big in the 1980s, there are tons of crossover in their respective fanbases, making them a natural fit. In capturing the look of the toys, Playmates’ VP of boys marketing Pat Linden tells me, “The figures have more of a Turtle-vibe to them, but the vehicles have more of a GI Joe vibe to them, but they have Turtle elements incorporated into them. For instance, with the copter, we’ve added the Turtle shell texture to it.”

With a similar aesthetic, Playmates will also be re-releasing the 1991 Turtle Tank vehicle and a four-pack of classic TMNT figures in military gear. The latter of which, Linden notes, includes a re-release of the 1988 Turtle Trooper parachute, a classic item that many collectors (myself included) found difficult to keep in good shape over the past four decades. As part of the classics line, the Turtles from the 2012 series will also get one more release before time runs out, as will four classic deep-cut villains: Antrax, Scale Tail, Wyrm, and Chrome Dome will be back on the shelves in their original toy forms as well as their reimagined versions featured recently in the Tales of the Teenage Mutant Ninja Turtles cartoon series and the theatrical short Teenage Mutant Ninja Turtles: Chrome Alone 2 – Lost in New Jersey.

Aside from a few new TMNT minis that will also hit shelves in 2026, that’ll be it for Playmates and the Teenage Mutant Ninja Turtles. While some fans are excited to see what Mattel, the new license holder for the TMNT, will bring in 2027, I can’t help but be saddened by the end of Playmates’ time with the Teenage Mutant Ninja Turtles. To put it quite simply, the Turtles wouldn’t be what they are — and might not even exist at all today — if it were not for Playmates. This final batch of toys isn’t just a nostalgia play, it’s a salute to the incredible work done over the last 40 years.