IVEST snaps up licensing rights to franchise Care Bears for $100m

• The seller is the Weiss family, with the current management team staying on
• Cloudco spun out from greeting card company in 2018
• Founded in 2013, IVEST manages over $500 million in assets

IVEST Consumer Partners, a Los Angeles and Canada-based private equity firm focused on consumer, retail, licensing and franchising, is acquiring Cloudco Entertainment, the parent company of popular children’s franchise Care Bears, for $100 million.

Included in this transaction are the rights to the Care Bears and other characters and games, including Holly Hobbie and Mad Balls.

The seller is the Weiss family, with the current management team staying on. Cloudco spun out from greeting card company in 2018.

“Along with existing management, we’ve got the means and experience to expand Cloudco with new partnerships, acquisitions, licensees and geographies,” said IVEST founding partner George Jones in a statement.

Jones is a former CEO of major retail chains, including Saks Department Store Group, Roses Stores and book seller Borders. He is also the former president of Warner Bros Consumer Products, the licensing arm of Warner Bros Entertainment Group of Companies.

Mark Matheny, an operating partner at IVEST and former Warner Bros head of international licensing, will serve as Cloudco’s Chairman. Jones, Sam Bremner, Jones’ co-managing partner and IVEST Partners Aston Loch and Chris Munyan are joining the Cloudco board.

Triago raised the capital for the acquisition of Cloudco. The deal’s debt advisor is Raymond James, the debt provider is BankUnited and the financial advisor is Intrepid Investment Bankers.

Cloudco’s Care Bears have achieved over $5 billion in retail sales since their creation in 1982 as greeting card illustrations. The Care Bears currently star as plush toys and in their own animated television series.

Founded in 2013, IVEST manages over $500 million in assets.