Saban Acquires Leading Lifestyle Company Paul Frank Industries
LOS ANGELES–August 17, 2010 –Saban Capital Group, Inc. announced today that its affiliate has acquired renowned lifestyle company Paul Frank Industries (PFI) including all company assets and intellectual property, an extensive design portfolio including more than 150 characters, headlined by the omnipresent monkey Julius. Saban Brands, an affiliate of Saban Capital Group, Inc., will be responsible for the management of the company’s business strategy moving forward, while creative operations will remain based in PFI’s current headquarters in Costa Mesa, California.
PFI marks the second acquisition, in the $500 million fund for Saban Brands, which was created to manage and license entertainment properties and consumer brands across media and consumer platforms throughout the world. The first property, the Power Rangers franchise, was announced in early May. The company will continue to acquire additional brands going forward.
In conjunction with the acquisition, Saban Brands also has announced plans to support the Paul Frank brand with new content and media strategies incorporating the Paul Frank characters. The property will be showcased at Brand Licensing Europe in September.
“Paul Frank Industries is one of the world’s leading lifestyle properties and we are delighted to add it to our stable of brands,” said Haim Saban, chairman and chief executive officer, Saban Capital Group, Inc. “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.”
“This acquisition ties into Saban’s strategy of building a portfolio of compelling global properties that touch consumers’ lives through strategic licensing partnerships,” stated Elie Dekel, President of Saban Brands.
Ryan Heuser will continue to drive the company’s creative vision as the Chief Creative Officer of Paul Frank Industries and will report directly to Elie Dekel. Mossimo Giannulli, one of the previous owners of Paul Frank Industries, will continue to advise and support the Brand on a strategic level. John Oswald will be leaving the company.
“The Paul Frank team is looking forward to working with Saban Brands to expand the company’s opportunities and take it to new heights,” said Ryan Heuser of Paul Frank Industries. “This endeavor will be the beginning of a new era for Julius and all his friends, who will be able to reach an even broader audience.”
Shawna Lynch / Melissa Romley