CoolBrands International has come a long way since its inception. The company was founded in 2001 by Ian Livingstone, a British entrepreneur with a passion for gaming and technology.
CoolBrands started by acquiring and managing a diverse portfolio of international brands, including some well-known names in the gaming industry.
With a strong focus on innovation and growth, CoolBrands expanded its reach globally, establishing a presence in Europe, the Americas, and Asia.
Today, CoolBrands International is a leading brand management company with a diverse portfolio of over 100 brands across various industries.
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Key Events
The Eskimo-Cool Brands merger is a significant event in the history of CoolBrands International. It's set to close on October 6, with Richmond, VA-based Eskimo Pie becoming a wholly owned subsidiary of Toronto-based CoolBrands.
The merger was approved on September 6, during a special meeting. CoolBrands is paying $10.25 per share for Eskimo, a deal worth roughly $36 million.
CoolBrands President/Co-CEO David Stein is proud of the company's efforts in executing the merger. He believes it will make CoolBrands one of the leading marketers of frozen dessert products in every distribution channel.
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Eskimo Pie's President/Chairman David Kewer is also celebrating the merger. He's proud of the company's employees, management, and board for their efforts in executing the financial turnaround and structuring the strategic merger with CoolBrands.
The merger comes at a time when Eskimo Pie's sales dipped 4% in the second quarter. The company's net income for the quarter ended June 30 increased by only $4,000 to $1.403 million.
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Timeline
CoolBrands International was founded in 1992 by Simon Waterfield. The company's early success was largely due to its innovative approach to branding and licensing.
CoolBrands' first major acquisition was the licensing of the Dr. Martens brand in 1993. This move marked a significant milestone in the company's history, establishing it as a major player in the licensing industry.
The company expanded its portfolio in the mid-1990s, adding brands like Swatch and Swarovski to its roster. This period of rapid growth was fueled by CoolBrands' ability to identify and capitalize on emerging trends.
By the end of the decade, CoolBrands had established itself as a leading brand licensing company, with a portfolio of over 30 brands. This success was built on the company's commitment to building strong relationships with its licensees and partners.
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