Saban Brands, the affiliate of Saban Capital Group, has acquired lifestyle company Paul Frank Industries (PFI) along with the company’s extensive portfolio of more than 150 characters, including the iconic Julius the monkey.

Under the terms of the deal, Saban Brands will be responsible for the management of the company’s business strategy and global licensing program, while creative operations will remain based in PFI’s headquarters in Costa Mesa, California. Moving full steam ahead, Saban Brands has announced plans to support the Paul Frank brand with new content and media strategies incorporating the Paul Frank characters. The property will be showcased at Brand Licensing Europe next month.

PFI marks the second acquisition in the US$500 million fund for Saban Brands, which was created to manage and license entertainment properties and consumer brands across media and consumer platforms worldwide. The first property, the Power Rangers franchise, was announced in early May.

Ryan Heuser will continue to drive the company’s creative vision as the chief creative officer of Paul Frank Industries and will report directly to Saban Brands president Elie Dekel. Mossimo Giannulli, one of the previous owners of Paul Frank Industries, will continue to advise and support the brand on a strategic level while John Oswald will be leaving the company.