Strawberry Shortcake and Care Bears Pack Their Bags

Cute and cuddly iconic properties, Strawberry Shortcake and Care Bears, have been sold for $195 million to a privately held Canadian entertainment and publishing company that’s on a mission to be a player in the kid business. The seller, American Greetings, will retain licensing rights for 10 years in some of the most lucrative categories like greeting cards, party goods and calendars.

The announcement today comes about a month after American Greetings, Cleveland, filed