Co-founder Genevieve Dexter has sold her majority share in London-based Cake Entertainment to the company’s co-director Tom van Waveren in an amicable end to their three-year partnership.

Created in 2002, Cake Entertainment works with international animation and live-action production companies to develop, produce, commercially position and manage their IP propositions for the global market.

Ed Galton, meanwhile, will continue to oversee distribution sales and operations, and Cake will retain representation rights to all the titles and properties currently in its portfolio.

The announcement follows an impressive year that saw the kids’ and family entertainment company snag the best distributor of the year award at Kidscreen 2009 and best investor at Cartoon Forum in Stavenger, Norway last September.