Sequential Brands Group has acquired the collectible and gift giving brand Franklin Mint. Financial details of the deal were not disclosed.
Celebrating its 50th anniversary in 2014, Franklin Mint creates a breadth of products ranging from coins and figurines to die-cast vehicles and games.
Future plans for the brand include a continuation of the brand's heritage to commemorate events and milestones with keepsake items, as well as introducing additional offerings through expanded channels of distribution.
Simultaneous with the acquisition, Sequential signed a license agreement with the prior ownership group to fulfill the legacy Presidential Coin continuity program offered by The Franklin Mint.
"Our three-pronged growth strategy of increasing distribution channels for existing product categories, expansion into new product categories and international growth fits perfectly with how we believe The Franklin Mint can best grow,” says Yehuda Shmidman, chief executive officer, Sequential Brands Group. “We expect to announce several new initiatives for the brand over the coming months as we look to execute on our growth strategy. This acquisition is in line with our corporate strategy of diversification across multiple consumer verticals, currently covering fashion, outdoor lifestyle, action sports and now collectibles."
The Franklin Mint is the fifth brand to be added to Sequential's portfolio in 2013, and the eighth property for the company in total.