Looks like Charlie Brown, Snoopy and the rest of the “Peanuts” gang have a new home. EW Scripps Co. has announced that the licensing rights to the “Peanuts” was recently sold for $175 million to Joe Boxer owner Iconix Brand Group Inc.
Created in the 1950s by Charles Schulz, the “Peanuts” have gone on to become one of the most recognizable and widely syndicated comic strip in history. The brand is licensed in over forty countries and annual retail sales of over $2 billion.
The sale also means that the family of the late ‘Peanuts’ creator, Charles Schulz, will receive twenty percent ownership after contributing that percentage of the sale price.
“This asset is a dream for a marketer,” Neil Cole, chief executive of Iconix, tells the ‘Wall Street Journal’. “We believe Peanuts large global footprint and broad licensing relationships will also open up new doors for our existing portfolio of brands and future acquisitions.”
“Neil and his team have great respect for who the Peanuts characters are and they honor all we have accomplished, and the spirit with which we do business,” says Mr. Schulz’s widow, Jean Schulz.
“Peanuts now has the best of both worlds. Family ownership and the vision and resources of Iconix with all the goodwill his lovable characters bring.”