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.
Terms of the purchase from Ivest Consumer Partners and Cloverlay were not disclosed but the deal is expected to close in the third quarter. The private equity firms acquired Care Bears in 2023 from the Weiss family, sole owners of the brand for more than 40 years. The brand is on track to exceed $750 million in retail sales by year-end 2026.
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. This marks the fourth merger or acquisition Authentic has made this year after Kevin Hart, Guess and Lee.
Since its founding, Care Bears has grown into one of the most loved family entertainment franchises. It offers more than 100 bears, each representing a distinct emotion such as Cheer Bear and Grumpy Bear. It reaches consumers in more than 190 countries and offers short-form content, gaming, live experiences and films in 26 languages.
“Care Bears had extraordinary cultural equity that had been fundamentally undercommercialized for decades,” said Mark Matheny, chair of Care Bears and operating partner, Ivest Consumer Partners and Aston Loch, co-founding partner, Ivest. “We transformed it from a children’s entertainment business into a consumer products licensing company. We are proud of what the Care Bears team built, and we look forward to seeing Authentic carry it into its next chapter.”
Ironically, on the same day as Authentic announced its acquisition, Skechers unveiled a footwear collaboration with the brand featuring women’s and kids. The shoes in the Skechers x Care Bears collection feature many of the brand’s most popular bears including Funshine Bear and Good Luck Bear.
