'Peanuts' characters owner Iconix to buy rights to Strawberry Shortcake for $105 million
Snoopy and Charlie Brown are getting a new corporate buddy.
Iconix, the brand licensing company that owns the "Peanuts" gang of characters, says it is buying the rights to cartoon character Strawberry Shortcake for $105 million from greeting card company American Greetings.
The New York company hopes to breathe new life into the 35-year-old brand with possible clothing, toy and TV show or movie deals.
The deal is expected to close within 45 days.
In a separate purchase, Iconix said Tuesday that it bought the North American rights to athletic brand Pony for $37 million from Chinese investment holding company Symphony Holdings Ltd.
Iconix owns and licenses clothing brands such as Joe Boxer, London Fog, Badgley Mischka and Candie's.