The company behind cartoon characters Snoopy and Charlie Brown might be up for grabs.
US brand management company Iconix Brand is considering selling its majority stake in Peanuts Worldwide, which owns the right to the iconic characters, Reuters reported on Tuesday, citing sources familiar with the matter.
The news agency reported that the cast of characters, which dates back to the 1950s and includes Lucy, Peppermint Patty and Pigpen, had sparked interest among a slew of investors, including some Chinese companies.
Iconix did not respond to a request for comment from Reuters.
Three months ago – and after more than three decades of collaboration – insurance giant MetLife dropped the Peanuts characters as mascots, dealing a blow to Iconix. The most recent contract, which had been signed in 2014, had reportedly cost MetLife between $10m to $15m (£8m to £12m) a year.
Created by Charles Schulz and licensed in more than 100 countries, Reuters reported that the characters generate about $30m in 12-month earnings before interest, taxes, depreciation and amortisation, according to the sources. The sources, however, declined to comment on the valuation of a possible deal, according to Reuters.
Iconix Brand manages multitude of consumer retail names including Umbro, Ed Hardy, Lee Cooper and Zoo York.
Besides Peanuts, Iconix is also looking to sell its Strawberry Shortcake brand, Reuters reported, citing the same people familiar with the matter.
