Iconix Brand Group is exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to characters Snoopy and Charlie Brown, according to a report from Reuters.
The characters, which also include Lucy, Peppermint Patty and Pigpen, have attracted the interest of Chinese companies as well as other investors looking to acquire U.S. media and licensing assets, sources told Reuters. Strawberry Shortcake is also on the selling block. Guggenheim Partners LLC has been hired to assist on the sales.
Iconix Brand Group, under a new management team that arrived last year, is looking to divest some of its many brands. In early January, Iconix brand divested Sharper Image for $100 million. Early last year it sold the luxury brand Badgley Mischka.
Iconix’s brands include Candie’s, Bongo, Joe Boxer, Rampage, Mudd, Mossimo, London Fog, Ocean Pacific, Danskin, Rocawear, Cannon, Royal Velvet, Fieldcrest, Charisma, Starter, Waverly, Zoo York, Umbro, Lee Cooper, Ecko Unltd., Marc Ecko, Artful Dodger and Strawberry Shortcake. In addition, Iconix owns interests in The Material Girl, Peanuts, Ed Hardy, Truth Or Dare, Modern Amusement, Buffalo, Nick Graham and Pony.
