Palitoy was a British toy company founded in 1947, known for producing a variety of popular toys and action figures. The company gained significant recognition in the 1970s for its Action Man line, which was similar to the American G.I. Joe figures. Palitoy's products were characterized by their quality and attention to detail, appealing to children and collectors alike. In addition to Action Man, Palitoy also produced toys based on popular franchises, including Star Wars and Thunderbirds. The company played a crucial role in the toy industry until it was acquired by Hasbro in the late 1980s, leading to its eventual closure.