Authentic Brands Group (ABG) has entered a strategic partnership with entertainer Kevin Hart to expand his brand into new markets and product categories.

Under the deal, Hart and ABG will co-own and manage the Kevin Hart brand, while Hart will take a shareholding in Authentic Brands. Financial terms of the agreement were not disclosed.

According to the company, Hart’s addition reflects ABG’s strategy of partnering with high-profile figures to grow entertainment-driven intellectual property globally.

“This partnership is about acceleration, growth and diversification. I’ve spent years building businesses and creating opportunities, and joining Authentic gives me the platform and global infrastructure to take my brand to the next level,” Hart said.

 “Becoming a shareholder allows me to co-own some of the most recognizable IP of all time while building my own brand legacy. I want the Hart name to live on for generations to come and be something that my grandkids and their grandkids will be able to be proud of.”

Corey Salter, ABG’s president of entertainment and international, added that Hart “represents the future of entertainment-driven IP” and that the company plans to expand his brand across multiple categories and geographies.

ABG manages a portfolio of more than 50 brands across sports, media, and lifestyle, including Champion and Reebok. The company says its properties reach nearly 1 billion social media followers and generate around $32 billion in annual retail sales.