Iconix Brand Group Closes Acquisition of Peanuts
Iconix Brand Group, Inc. announced it has completed the acquisition of the Peanuts brand and related assets of United Media Licensing, a division of United Feature Syndicate, Inc. through a newly formed joint venture company, Peanuts Worldwide LLC, owned 80 percent by Iconix and 20 percnet by Charles M. Schulz Creative Associates, managed by the Schulz family.
This transformative deal changes the landscape of Iconix and moves the company well beyond fashion into a true global brand management entity. Iconix now has a diversified portfolio of brands with consumer products outside of fashion representing approximately one-third of the company's overall revenue.
The cast of Peanuts, includes, among others, iconic and well known characters such as Charlie Brown, Snoopy, Lucy, Linus, Sally, Schroeder, Peppermint Patty and Woodstock. In addition, Iconix has acquired the licensing and character representation for a number of character brands, including Dilbert and Fancy Nancy. Peanuts has a strong diversified global licensing platform with over 1,200 licensing agreements including relationships with MetLife, Hallmark, Universal Studios, Warner Bros., Cedar Fair, H&M, United Colors of Benetton, Old Navy, CVS and Walgreens. The Peanuts brand is licensed in over 40 countries and generates annual retail sales of more $2 billion.
The purchase price for this acquisition was $175 million. Iconix funded its portion of the purchase price with cash on its balance sheet.