Saban Capital Group Acquires Paul Frank

Saban Capital Group of Los Angeles announced it will acquire California-based Paul Frank Industries, the lifestyle brand whose signature Julius the monkey appears on clothing, accessories and more for both kids and adults. The companies did not disclose the purchase price, although the New York Post reported it to be around $50 million. Saban will take over the rights to Julius as well as 150 characters developed by the company over its 15-year history. Paul Frank founder Ryan Heuser will stay on as chief creative officer of Paul Frank Industries, which will remain at its current Costa Mesa headquarters and retain its creative staff of 20.

Saban Capital owner Haim Saban made news earlier this year with the purchase of the rights to the kids’ television series “The Power Rangers” from the Walt Disney Co.