Snoopy and Charlie Brown’s owners are considering putting Peanuts Worldwide up for grabs……
After working together for more than thirty years, insurance company MetLife decided to stop using the Peanuts characters as their mascots three months ago.
The company that created Charlie Brown and Snoopy the cartoon may be for sale.
According to people familiar with the situation, US brand management company Iconix Brand is thinking of selling its majority ownership in Peanuts Worldwide, the company that holds the rights to the well-known characters. This information was reported by Reuters on Tuesday.
The news agency stated that a number of investors, including some Chinese companies, had expressed interest in the cast of characters, which includes Lucy, Pigpen, and Peppermint Patty and dates back to the 1950s.
A Reuters request for comment was not answered by Iconix.
Iconix suffered a setback three months ago when insurance behemoth MetLife decided to discontinue using the Peanuts characters as their mascots, ending over thirty years of partnership. The most recent deal, signed in 2014, supposedly cost MetLife anywhere from $10 million to $15 million (£8 million to £12 million) annually.
Charles Schulz created the characters, which have licenses in more than 100 countries. According to Reuters, the characters bring in roughly $30 million a year before interest, taxes, depreciation, and amortization. Reuters reports that the sources declined to comment on how much a potential deal would be valued.
Numerous consumer retail brands are managed by Iconix Brand, such as Ed Hardy, Lee Cooper, Zoo York, and Umbro.
According to Reuters, which cited the same people with knowledge of the situation, Iconix is also looking to sell its Strawberry Shortcake brand in addition to Peanuts.
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