Authentic Brands Group (Authentic) announced the closing of its acquisition of the intellectual property (IP) of Care Bears, one of the world’s most enduring family entertainment franchises.

The transaction establishes character IP as a new vertical within Authentic’s global platform.

Authentic has assembled a senior team of business and creative leaders to accelerate the brand through content, experiences, products and partnerships.

Simon Philips, Executive Vice President, Character Brands, will lead the business. Philips brings decades of experience building and expanding globally recognized entertainment franchises, with leadership roles across Moonbug Entertainment, Marvel Entertainment and Disney. He is joined by Charlotte Payne, Vice President, Brand Management; Amy Sullivan, Vice President, Retail Development – Entertainment; and Cristina Villegas, Vice President, Brand – Entertainment, with support from a broader team spanning creative, content, marketing, licensing and commercial development. Collectively, Philips, Payne, Sullivan and Villegas bring decades of experience across the character-IP and entertainment industries to accelerate Care Bears’ next phase of growth.

Corey Salter, CEO, Entertainment at Authentic, says:

“We are thrilled to officially welcome Care Bears to Authentic, and to have a strong team in place that knows how to turn great characters and stories into lasting brands. Care Bears brings more than four decades of emotional connection, global recognition and an incredibly rich universe. We have the people, the platform and the opportunity to build on that foundation and take Care Bears into its next era.”

Care Bears is Authentic’s first character-driven IP, adding a new growth engine to a platform built to accelerate iconic brands across content, experiences and global commerce. Authentic Studios and Authentic Live will help lead the next chapter of Care Bears storytelling, supported by Authentic’s global partner network.

Simon Philips, Executive Vice President, Character Brands at Authentic, adds: “The Care Bears mean something different to everyone who grew up with them and is discovering them for the first time. Our job is to protect what people already love about these characters while giving them new ways to feel it all over again. We couldn’t be more excited to do that as part of the Authentic team; with the platform and opportunity we now have in front of us.”

Originally introduced in the early 1980s as a greeting card concept, Care Bears has grown into a global entertainment franchise generating more than $12 billion in lifetime retail sales. Its universe includes more than 100 bears, each representing a distinct emotion, including Cheer Bear, Funshine Bear and Grumpy Bear. The brand reaches consumers in more than 190 countries, appears in 26 languages and is supported by more than 500 licensing partners worldwide.