The deal with Saban Brands comes as the firm is set to launch 40 new Power Rangers episodes, which are currently in pre-production.
The upcoming series will feature a new cast, look and theme and the shows are set to be broadcast from 2011.
CPLG will be looking to sign up new licensees in a range of categories, to join a programme that includes long-term master toy and video game licensee, Bandai.
Kirk Bloomgarden, SVP of International at Saban Brands, said: “With Power Rangers set for a big revival, we are delighted that CPLG will be dealing with the brand in western Europe and using its network of offices across the continent to maximise opportunities for this truly international property."
Katarina Dietrich, CEO of CPLG, added: “We are very excited about the prospects for the Power Rangers brand. We will be tapping into a huge depth of brand recognition and a rich heritage – kids and adults alike know and love the brand and it is a proven force within the licensing sector.
"We will be looking to extend Power Rangers across a wide range of categories.”