News
American Greetings blocks merger
Helen Jacobs Jun 23 2008, 1:36pm
The proposed merger between Cookie Jar and DIC has come to a halt after American Greetings obtained a temporary injunction.
The restraining order recognises that the sale could violate American Greetings' rights as the owner of Strawberry Shortcake and cause damage to the brand.
According to American Greetings, it was open to discussions with Cookie Jar and DIC, however it was only contacted by Cookie Jar after the sale had been agreed on in principle.
American Greetings made an agreement with DIC in 2001, retaining DIC as the licensing and merchandising agent and distributor for Strawberry Shortcake. The deal included a clause prohibiting a sale to a competitor without American Greetings' consent.
