In response to speculation in the Canadian press this morning that Toronto’s Cookie Jar Group might be up for sale, KidScreen Daily turned to CEO and co-founder Michael Hirsh for some clarification. ‘We are examining our strategic alternatives because the company has been successful and we have big growth plans,’ he says. ‘It’s time to bring in additional and new capital.’
The company had been considering mounting an IPO to raise funds, but the expected yield was deemed insufficient. ‘Now we are examining private equity,’ says Hirsch, adding that he’s fielded interest from a few players, but hasn’t set a concrete timeline for striking a deal.
Cookie Jar has doubled its revenue since launching three years ago, and Hirsh says the plan for this year is to roll out five new kids brands to join mainstays such as Caillou and The Doodlebops.