Media mogul Haim Saban announced Tuesday that he’s getting into the apparel and accessories business.
Saban Brands, an affiliate of Century City private investment firm Saban Capital Group Inc., acquired Paul Frank Industries, an Orange County apparel and accessory company best known for adorning its Julius the monkey character on everything from T-shirts to stationery. Terms of the deal were not disclosed.
It’s the second large purchase for Saban this year. Saban Brands bought back the rights to Saban’s Power Rangers franchise from Walt Disney Co. in May and then launched a new Power Rangers TV series on Viacom Inc.’s Nickelodeon cable network. Saban launched Saban Brands with $500 million in capital in May to acquire established entertainment and consumer names such as Paul Frank.
“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,” Saban said in a statement.
Saban Brands is planning to create content and media strategies for the Paul Frank brand and the more than 150 characters that make up the company’s design portfolio.
Paul Frank will be managed by Saban Brands President Elie Dekel. However, the company will continue to operate from its Costa Mesa headquarters and its chief creative officer, Ryan Heuser, will remain in that position.
Saban made his fortune in the 1990s by adapting for the U.S. market a Japanese TV series about teen superheroes who defend the planet from monsters. Disney acquired the rights to “Might Morphin Power Rangers” in 2001 as part of its $2.9 billion purchase of Fox Family Worldwide, which Saban and News Corp. co-owned.
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