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AG Sells Strawberry Shortcake for $105 Million

American Greetings has finally found a buyer for Strawberry Shortcake. Iconix Brand Group has reportedly agreed to acquire the iconic preschool brand for a cool $105 million.

AG launched Strawberry Shortcake back in 1969 and has owned it ever since, developing the property into a global brand with over 350 licensees. According to TLL’s Global Market for Licensed Preschool Properties report, Strawberry Shortcake generated estimated retail sales of $150 million globally, including $60 million in the U.S.

In 2013, AG put Strawberry Shortcake and some of its other famous brands, including Care Bears, on the market after the company went private. Iconix, which partnered with the estate of Charles M. Schulz to acquire rights to the Peanuts brand in 2010, says it plans to grow Strawberry Shortcake on a global scale.

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