Authentic Brands Group has signed an agreement to acquire the Care Bears IP, with the deal expected to close in Q3.
Cloudco Entertainment (formerly American Greetings Entertainment) is the entertainment studio currently home to Care Bears. Financial terms of the Authentic acquisition of the brand were not disclosed. The franchise has generated more than $12 billion in lifetime retail sales. It originated as a greeting card concept in the 1980s.
“Care Bears is the gold standard of family entertainment,” said Corey Salter, CEO of Authentic’s entertainment division. “It arrives with a nearly 45-year history of genuine emotional connection, an active content pipeline, a vast network of more than 500 licensing partners and a devoted fanbase that keeps growing. 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 Studios and Authentic Live will work on extending the Care Bears universe through new stories, audiences, and fan experiences. The Authentic portfolio includes a raft of sports, fashion, and lifestyle brands.
