The acquisition also includes a
new property called Sushi Pack, created by Studio Espinosa Inc. and co-produced by
American Greetings and DIC Entertainment Holdings. DIC
entertainment merged with Cookie Jar in June 2008 for $87.6 million. DIC
licenses American Greetings' Strawberry Shortcake brand. Upon the
announcement of the merger, American Greetings
voiced concern saying the deal could "cause irreparable damage" to the
Strawberry Shortcake brand, but
was open to discussions with Cookie Jar.
American Greetings won't lose these lovable cartoon characters
completely. The deal includes a 10-year exclusive licensing agreement for social
expression products on all three properties. Cookie Jar also owns
popular DIC properties such as Inspector Gadget, Horseland, Sabrina, Madeline, Liberty's Kids and Sonic The Hedgehog. The deal is scheduled to
close Sept. 30. - Maria Woehr
A Canadian company called Cookie Jar Entertainment has
bought American Greetings Corp.'s properties Strawberry Shortcake and
Care Bears for $195 million. Cookie Jar is
backed by private equity firms Birch Hill Equity
Partners and OMERS Capital Partners.
