U.K.-based Entertainment Rights purchased U.S.-based Classic Media in 2007, which bought Big Idea after the company filed for bankruptcy in 2003.

In partnership with GTCR, Boomerang Media plans to invest up to $200 million to build its franchises, with VeggieTales as a key brand in its global portfolio, company officials said.

"The leadership of Boomerang Media has an exceptional track record in the entertainment world," said Leslie Ferrell, general manager of Big Idea. "They have a thorough understanding of the faith-based market and vision for Big Idea's mission to impact the spiritual fabric of society through creative media."

Eric Ellenbogen of Boomerang Media added: "Big Idea has established itself as a leader in the Christian marketplace. We will continue to support their mission, the long-lasting relationships they have built with their audience, and their efforts to introduce new generations of families to VeggieTales."