Imagine Entertainment's Brian Grazer has signed on to produce Stretch Armstrong, the first film to be developed through Universal Pictures' six-year pact with toymaker Hasbro.

According to Variety, the studio will release the family action pic on April 15, 2011.

Grazer, who is currently producing a new take on Robin Hood for the studio, will produce the pic, based on the popular 1970s action figure whose limbs could be stretched to nearly four feet.

"Stretch Armstrong is a character I have wanted to see onscreen for a long time," said Grazer, who is also behind a reboot of "The Incredible Shrinking Man" at U. "He's an unconventional kind of superhero with a power that no one would want." Steve Oedekerk has already begun tackling the script for the comedy.

Hasbro has been eyeing movies as a way to relaunch the toy (originally introduced by Kenner) as a new superhero franchise. The character also had a dog named Fetch Armstrong and sibling Evil X-Ray Wretch Armstrong.

Disney attempted to adapt the property in 1998, with Danny DeVito and Jackie Chan.

Stretch Armstrong comes to theaters April 11th, 2014. The film is directed by Rob Letterman.