There are many big corporations that own seemingly competing companies, giving consumers the illusion of choice. Luxottica owns both Ray-Ban and Oakley. Procter & Gamble operates both Oral-B and Crest, as well as Gain and Tide. For years, McDonald’s owned 90% of Chipotle. But what about Hot Wheels and Matchbox—age-old die-cast car rivals? Yep, same company. But it wasn’t always that way.

Matchbox is the OG

British-based Lesney Products introduced its lineup of die-cast Matchbox cars in 1953. These durable metal toys, 1:64 the size of the real thing, were an instant hit. The perfect size for little hands, kids could build an entire collection to race across floors and along sidewalks.

The name “Matchbox” came from the little cardboard boxes the company originally used as packaging. They were printed with a picture of the car inside, but you couldn’t actually see the toy.

Hot Wheels enters the race

Toy giant Mattel wanted in on the action. It launched the Hot Wheels brand in 1968. It did some things the same, and some things very differently.

Hot Wheels cars are also die-cast toys, usually 1:64 scale. They’re similar enough that most kids’ toy boxes include some Matchbox cars and some Hot Wheels.

But while Matchbox focused on realistic models of trucks, race cars, and regular production vehicles, Hot Wheels had another design philosophy. Many of its toys were miniature versions of highly customized vehicles or stylized concept cars. Paired with high-energy ads and elaborate racetrack kits, Hot Wheels made a big splash. The brand has sponsored races, monster truck shows, and car shows—turning many kids into lifelong car fans.

It’s no wonder Hot Wheels thrived. In 1997, Mattel bought Matchbox. Most Matchbox cars are still modeled after stock makes and models. It’s been decades since they were sold in matchbox-like packages. Today, they come in the same transparent blister packs as Hot Wheels. In fact, in most toy aisles, the two “competing” brands hang side by side.