Zinkia Makes CAKE Investment

CANNES/MADRID/LONDON: Zinkia Entertainment has secured a 51-percent majority stake in U.K.-based children’s entertainment outfit CAKE for an undisclosed sum.

The joint venture deal is intended to enhance brand-management and distribution opportunities for the two companies. Both Zinkia and CAKE will maintain their own management, executive teams and brand identities, with plans to share knowledge, expertise and creativity.

"This strategic alliance with CAKE is an important development in our plans to build, develop and manage a top-tier slate of kids and family entertainment properties for the global market," said José María Castillejo, Zinkia’s president. "We look forward to working with CAKE, their talented management team and quality catalogue of programs."
 
Tom van Waveren, CEO and creative director of CAKE, added, "We have known the people leading Zinkia for many years and have been great fans of all they have been doing with Pocoyo and their company. We have had time to conclude that our respective skills are very complementary and we feel that we will be able to significantly contribute to each others success stories. The deal fulfils a key aspect of CAKE’s long-term strategy and we’re delighted it has come to fruition as planned."