Cake has officially finalized its acquisition of rival Jetpack Distribution’s assets, marking a significant expansion in its library and a pivotal moment in the children’s television sector. The deal comes after a prior agreement to acquire a substantial amount of Jetpack’s assets announced just a month ago. Although the financial details of the acquisition have not been disclosed, the agreement effectively enhances Cake’s catalog, bringing its total to 3,200 half-hours of kids and family programming.
Jetpack, recognized as a reputable independent distributor, faced challenges within the competitive kids TV market, leading to its liquidation announcement on August 21. Key figures in this acquisition include Cake Group CEO Ed Galton and Jetpack’s founder Dominic Gardiner, both of whom cited their longstanding personal relationship as instrumental in concluding the deal. Notably, the strategic purchase was a proactive move rather than a response to immediate financial distress.
Galton shared insights with Deadline, stating that he admired how Gardiner had successfully built the Jetpack brand. He emphasized the importance of adapting to changing market dynamics, noting that the acquisition positions Cake to thrive in a challenging global entertainment landscape.
The acquisition will lead to structural changes within Cake, with Gardiner stepping up as the Managing Director of Distribution and overseeing a newly expanded sales and marketing team. Although Jetpack’s other personnel will not transition to Cake, there are ongoing discussions regarding the future presence of the Jetpack brand within Cake’s operations. Galton confirmed that the Jetpack name will continue to be used, particularly during events like MIPCOM.
Dominic Gardiner, reflecting on the merger, remarked that the collaboration represents a natural fit that promises benefits for the industry as a whole. He expressed enthusiasm for working towards advancing Cake’s standing in the market.
With the U.S. kids TV sales market contracting, Galton acknowledged a shift back toward larger, volume deals instead of focusing solely on individual show licenses. Nevertheless, both Cake and Jetpack have maintained identities as specialized distributors, aiming to uphold their reputations for high-quality service and personalized approaches.
Galton’s focus will now shift toward further developing Cake Productions, alongside its ventures in digital content and joint projects, all while Gardiner leads the drive for sales and distribution. This newly formed partnership is positioned to leverage the strengths of both companies, ensuring enhanced experiences for buyers and creators alike.
In the face of an evolving media landscape, this acquisition signifies Cake’s commitment to adapting and growing, reinforcing its presence and capabilities in the ever-changing world of children’s entertainment.