One week after completing its acquisition of Collegiate Licensing Company (CLC), IMG announced the acquisition of CLC sister company, Licensing Partners International (LPI). LPI's current clients include: the PGA TOUR, the Canadian Football League, Churchill Downs, Petty Enterprises, the Canadian Hockey League, The President's Cup and the World Golf Hall of Fame, among others. Terms were not disclosed.
Founded in 2002, Florida-based LPI develops and manages custom trademark licensing programs, including brand protection, management and promotion, for some of the world's leading sports, recreation and corporate brands. LPI revenue has grown more than 300 percent in the four years since its founding.
In making the announcement, George Pyne, President of IMG's Sports and Entertainment Group, said, “LPI and its outstanding roster of sports and recreation brands is a perfect addition to IMG which is committed to growing our worldwide licensing business and offering clients in sports, entertainment and media the widest portfolio of licensing services.”
Under the agreement, LPI will be fully integrated into IMG's Sports and Entertainment Group. LPI President, Wesley Haynes, will become Senior Vice President, Sports Licensing at IMG. LPI will maintain offices in Florida, Atlanta, Kentucky and Toronto.
Wesley Haynes added, “We are excited about the countless opportunities we will have to grow our clients' brands through the extensive resources of IMG. This new alliance will greatly enhance the services and marketing expertise we have been able to provide our clients to date and is an opportunity to really take these brands to a higher level.”
IMG generates licensing and marketing opportunities for some of sports and entertainment's best-known brands and personalities including Mercedes-Benz Fashion Week, The Nobel Foundation, Major League Baseball, Wimbledon, The United States Golf Association, Cesar Millan, Tiger Woods, Arnold Palmer, Hilary Duff, Drew Barrymore and Gisele Bündchen, among many others.