Reggae singer Bob Marley's name and likeness have been slapped on unauthorized merchandise since his death in 1981. Now, the Marley family and a private equity firm that invests in retail brands are preparing a major push to license Mr. Marley's likeness, trademarks and themes to apparel, food and even video games.

Hilco Consumer Capital, which has compiled a stable of retail brands including Halston and Ellen Tracy, this month invested some $20 million for half of House of Marley LLC, a joint venture with the Marley family, according to people familiar with the matter.