Merrythought, the home of the original English teddy bear, is to produce official commemorative bears to mark the London 2012 Olympic Games and Paralympic Games.

The London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) confirmed the appointment of Merrythought, a traditionally run UK business that still crafts each bear by hand.

Established in 1930 in Ironbridge, near the Shropshire town of Much Wenlock, the company is a family business run by Oliver Holmes, grandson of founder Gordon Holmes. Merrythought teddy bears are fully jointed and made using quality materials and craftsmanship.

Merrythought will produce its range of limited edition commemorative and collectable mohair teddy bears in celebration of the London 2012 Games and London's heritage as a previous host city.

Contributing approximately £80 million to the cost of staging the Games, official London 2012 merchandise includes over 10,000 consumer products.

LOCOG commercial director Chris Townsend commented: "We are delighted Merrythought is on board to produce this exclusive range of memorabilia. They are a well-established UK company that has been operating for over 80 years, manufacturing all their product in the UK. To us there was no question that the great British teddy bear could become a symbol to mark London 2012."

The official London 2012 Olympic commemorative bear will be on sale at selected retailers including official London 2012 shops at St Pancras station, Paddington station, John Lewis Oxford Street, online and other good high street retailers, priced around £69.95.