Cookie Jar swoops for AG properties

$195 million deal agreed for Strawberry Shortcake and Care Bears.
Author:
Publish date:
Social count:
0

Cookie Jar Entertainment has reached an agreement with American Greetings to acquire its Strawberry Shortcake and Care Bears properties for $195 million.

Since being re-introduced in 2002, Strawberry Shortcake and Care Bears have generated more than $5 billion combined in retail sales of licensing product.

As part of the deal, Cookie Jar will acquire the rights to Sushi Pack, a new property created by Studio Espinosa and co-produced by American Greetings and DIC Entertainment.

Additionally, Cookie Jar granted American Greetings a ten-year exclusive inbound licensing agreement for social expression products on all three properties.

"When Cookie Jar was founded we wanted to become an international power in children's entertainment programming," said the firm's CEO Michael Hirsh. "We have been filling Cookie Jar with great properties such as Caillou, Arthur, Johnny Test and The Doodlebops. The acquisition of DIC and now Strawberry Shortcake and Care Bears makes us the fastest growing independent player in the industry."

AG's Josef Mandelbaum added: "Strawberry Shortcake and Care Bears have been synonymous with American Greetings for more than 25 years and are beloved by all. We are very confident that Cookie Jar will be able to take these two properties to new heights. This is a great outcome for our company and shareholders that has allowed us to realise significant value from all of our past efforts in these properties."

Following the sale, American Greetings Properties will continue to develop its licensing, marketing and promotional programs for its other franchises including Twisted Whiskers, Mad Balls, Holly Hobbie, TinPo and new pre-school property Maryoku Yummy.

The acquisition (subject to customary closing conditions) is due to close on September 30th 2008.

The two firms also announced that all litigation involving DIC Entertainment Holdings, the licensing agreement between AG and DIC for Strawberry Shortcake and Cookie Jar's acquisition of DIC has been dismissed.

Related

Featured Jobs

Aardman Job Logo 620 x 349

Brand Manager (Maternity Cover)

Part of the brand team, The Brand Manager works closely with several members of the department, including Studio Publicist, Community Managers, Licensing, Sales and Attractions and Live Experiences teams to implement local and international strategies in the form of brand plans and maximising on all activity surrounding the properties.

Universal Job Logo 620 x 349

Senior Graphic Designer, EMEA - Consumer Products

Working in tandem with the Product Development team and reporting into the Design Manager EMEA, the purpose of this role is to drive forward our creativity across all licensed consumer products. As part of the creative team, you’ll be developing exceptional creative assets and product concepts for numerous NBCUniversal franchises that inspire licensing partners across the entire region.

SanrioJob Logo 620 x 349

Creative Manager

Best known for global icon Hello Kitty, Sanrio has a portfolio of more than 400 characters. We license a unique collection of branded gifts, stationery and fashion accessory items while collaborating with the most respected companies in the world. Our EMEA business coordinates the development licensing throughout Europe, Russia, Middle East, Africa, Asia (for Mr Men), Australia and New Zealand. An exciting, permanent opportunity has come up at our London office to lead our Design team as Creative Manager (m/f)

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.