Authentic Brands Group LLC, a portfolio investment of U.S. private equity firm Leonard Green & Partners and Canadian firm Knight’s Bridge Capital Partners since 2010, has closed its acquisition of Muhammad Ali Enterprises from CORE Media Group. Financial terms of the transaction were not disclosed. Authentic Brands is an intellectual property business focused on buying and managing prominent consumer brands. The company has offices in New York, Toronto and Los Angeles.
PRESS RELEASE
Authentic Brands Group, LLC Completes the Purchase of Muhammad Ali Enterprises
“The Greatest of All Time” Joins Marilyn Monroe and Elvis Presley to Comprise a Powerful Portfolio of ABG Owned Iconic Brands
NEW YORK, Nov. 19, 2013 /PRNewswire/ — Authentic Brands Group, LLC (ABG) announced today the acquisition of Muhammad Ali Enterprises from CORE Media Group. Following the acquisition, ABG will own and manage, in partnership with the Ali family and Joel Weinshanker, Chairman and Founder of National Entertainment Collectibles Association (NECA), the intellectual property associated with one of the most celebrated and widely recognized athletes and humanitarians of all time.
“We are very proud to welcome Muhammad Ali into the ABG brand portfolio. Together with the Ali family, we intend to build upon Muhammad’s core principles to create strategic partnerships which will introduce a broader audience and future generations to Ali’s unmatched greatness as both an athlete and an individual.” said James Salter, Chairman and Chief Executive Officer of Authentic Brands Group, LLC.
“Muhammad has always maintained that boxing was just a means to introduce him to the world,” said Lonnie Ali, Muhammad’s wife. “As we look towards the future and the potential for Muhammad’s positive messages to reach a broader audience, we feel confident that ABG is the right team both to protect and to progress Muhammad’s core principles of confidence, conviction, dedication, giving, respect and spirituality.”
In connection with the acquisition, ABG will assume global rights to Ali’s intellectual property, including the world’s largest library of photographic images of Muhammad Ali; a moving image and video collection; Ali’s name and likeness; and trademark phrases, including “Float like a butterfly, sting like a bee,” and “The Greatest of All Time”.
Muhammad Ali remains one of the most recognizable men on earth more than fifty years after he emerged as a gold medalist at the 1960 Rome Olympics. Among his countless awards and accolades, he was named Sports Illustrated’s “Sportsman of the Century”, GQ’s “Athlete of the Century”, is a United Nations Messenger of Peace, and has received the Presidential Medal of Freedom and the Amnesty International Lifetime Achievement Award.
About Authentic Brands Group, LLC
Authentic Brands Group, in partnership with Leonard Green & Partners, is an intellectual property corporation with a mandate to acquire, manage and build long-term value in prominent consumer brands. Headquartered in New York City, ABG’s mission is to further enhance brand equity through partnering with best-in-class licensees and retailers. ABG brands include Marilyn Monroe®, Muhammad Ali®, Elvis Presley®, Juicy Couture®, Judith Leiber®, Adrienne Vittadini®, Taryn Rose®, Misook®, Hickey Freeman®, Hart Schaffner Marx®, Palm Beach®, Bobby Jones®, Spyder®, Prince®, Ektelon®, Viking®, TapouT® and Sportcraft®. www.abg-nyc.com
About Joel Weinshanker
Joel Weinshanker is the founder and Chairman of National Entertainment Collectibles Association Inc. (NECA).
About National Entertainment Collectibles Association Inc. (NECA)
NECA is a media and entertainment company operating in the United States and internationally, with three segments: Consumer Products, Filmed Entertainment and Online Retail/Digital Distribution. NECA is the leading designer, marketer, and worldwide distributor of licensed entertainment consumer goods based on some of the world’s most established and beloved properties, providing products across all consumer categories and distribution channels. www.necaonline.com
Media Contact: Zach Perles, Authentic Brands Group, 646-434-1055; zperles@abg-nyc.com
SOURCE Authentic Brands Group, LLC
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