– IVEST Consumer Partners and Cloverlay announced the sale of Care Bears to Authentic Brands Group, a global brand platform generating over $36 billion in annual retail sales.
– IVEST and Cloverlay acquired Care Bears from the Weiss family in 2023 with the goal of unlocking the brand’s commercial potential.
– Under their ownership, Care Bears increased revenue fourfold and is expected to exceed $750 million in retail sales by the end of 2026.
– Mark Matheny, Chair of Care Bears and Operating Partner at IVEST Consumer Partners, said the firm transformed Care Bears into a global consumer products licensing business, validating its strategy of creating value by scaling iconic but underutilized intellectual property.
– Jeff Collins, Managing Partner at Cloverlay, said the investment demonstrated the firm’s strategy of identifying overlooked intellectual property assets with strong growth potential and expressed confidence in Authentic Brands Group to lead the brand’s next phase.
– The financial terms of the transaction were not disclosed.
