Care Bears is becoming part of the Authentic Brands Group portfolio.
On Tuesday, the brand and entertainment platform said it has signed a definitive agreement to acquire the intellectual property of Care Bears, a global entertainment franchise that has generated more than $12 billion in retail sales since being introduced as a greeting card concept in the early 1980s
More from WWD Terms were not disclosed but the deal is expected to close in the third quarter. This marks the fourth merger or acquisition Authentic has made this year after Kevin Hart, Guess and Lee. Authentic Studios and Authentic Live, divisions of Authentic Brands Group, will be key to extending the Care Bears universe through new stories, audiences and fan experiences.
Since launching in 2023, Authentic Studios has introduced new ways for audiences to engage with the company’s brands through original content and experiences, such as Beckham, Shaq’s Dunkman League and EPiC Elvis Presley. Authentic Live connects brands with the world’s biggest moments in sports, culture and entertainment through more than 60 annual events. “Care Bears is the gold standard of family entertainment,” said Corey Salter, chief executive officer 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 fan base 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.” The company had no further comment on its plans on Tuesday.