Iconix is looking to sell its majority stake in the Peanuts brand along with Strawberry Shortcake, according to Reuters‘ sources.
The characters, which include Lucy, Peppermint Patty and Pigpen, have attracted the interest of Chinese companies as well as other investors keen to snap up U.S. media and licensing assets, reported Reuters.
The New York-based company is working with investment bank Guggenheim Partners LLC on an auction process to sell the brands, however there is no certainty that any deal would occur.
The growth of the Peanuts brand was driven by the launch of the Peanuts movie, which was supported by 25 national promotional and marketing partnerships including programs with McDonald’s, Nestle Crunch, All Laundry detergent, Met Life and Hallmark; eight halo collaborations with fashion, lifestyle and sports brands including The Gap, Pottery Barn Teen and Lesportsac. The brand also boasted multiple national retail partnerships with retailers including Target and Toys “R” Us.