Authentic has signed a definitive agreement to acquire the intellectual property of Care Bears, expanding its entertainment business into character IP.
Launched in 1981, Care Bears has generated more than $12 billion in global retail sales and is distributed across approximately 190 territories through more than 500 licensing partners.
“Care Bears is the gold standard of family entertainment,” said Corey Salter, CEO of Authentic’s entertainment division.
“Our opportunity is not simply to steward the brand and its message of positivity; it’s to bring Care Bears into Authentic’s powerful platform and write the next great chapter in one of entertainment’s most enduring franchises.”
Authentic said its Studios and Live divisions will play a key role in expanding the Care Bears franchise through new content, audience engagement and fan experiences.
The company expects to close the transaction in the third quarter, subject to customary closing conditions.
Separately, Skechers has launched a Care Bears collaboration with Cloudco Entertainment, introducing a footwear and apparel collection for women and children inspired by the franchise’s iconic characters. The collection debuted on June 30 and is available at Skechers stores and online in select markets.
- Further reading: Authentic Brands Group to buy Lee for $1 billion.
