Saban Capital Group has made its second acquisition from its $500 million fund, snapping up Paul Frank Industries.
The firm has picked up all company assets and IP, plus a design portfolio of over 150 characters (including the monkey, Julius). Saban Brands will be responsible for the management of the firm's business strategy moving forward, while creative operations will remain in PFI's HQ in California.
In addition, Saban Brands is looking at supporting the Paul Frank brand with new content and media strategies incorporating the characters.
"Paul Frank Industries has established a unique image that resonates with a wide variety of consumers and we look forward to building on its global success," said Haim Saban, chairman and CEO at Saban Capital Group.
Ryan Heuser will continue in his role of chief creative officer, reporting in to Elie Dekel, president of Saban Brands.
Saban's first acquisition was the Power Rangers franchise, which the firm snapped up in May.