Major expansion of Milton Keynes based global party products business
Takeover of leading party brand Ginger Ray is second acquisition in 2 months
A Milton Keynes-based global party business has acquired £20m turnover leading party brand Ginger Ray based in Weybridge, Surrey.
Amscan International is the world’s largest designer, manufacturer and distributor of party products, has its headquarters in Brinklow. The company, which has a turnover of £200m and employs more than 300 people in the UK and 2,500 worldwide, has made the acquisition as part of its ambitious strategic growth plans.
It marks the company’s second acquisition in two months, following the purchase of Germany-based foil balloon printing technology business Luftballon-Markt in August.
Both deals have happened since the management buy-out of Amscan International in January this year which was supported by Leeds-based private equity fund Endless. The value of all transactions is undisclosed.
Amscan International chief executive officer, Gary Panons, said: “We are delighted to complete the Ginger Ray acquisition. Ginger Ray managing director, Ben Spence, and his team have developed an industry-leading brand and we believe that with a combination of our mutual strengths we can help the brand develop further.”
Ginger Ray has a turnover of £20m and 30 employees. The company has been inspiring customers for more than eight years, designing and creating an innovative, aspirational product range that is stocked by over 600 retailers worldwide, from renowned high street department stores to independent retailers. Partnering with Amscan International will enable Ginger Ray to benefit from an extensive global network and access to the company’s capabilities in e-commerce and supply chain.
Joe Hennigan, Amscan International’s chief financial officer and chief operating officer, added: “Developing our brand proposition is the cornerstone of our strategic plan and we are delighted to be partnering with the market leading brand in our category. We have known Ben and the team for a number of years and believe that combining our efforts will accelerate the growth of Ginger Ray.”
Ginger Ray will continue to operate under its own trading name and the existing Ginger Ray team, including managing director Ben Spence, will all remain in their current roles.
Mr Spence said: “We are thrilled to be partnering with Amscan International. We believe that access to the global network and capabilities of Amscan International will enable us to fully focus on what we do best: creating beautiful products for our customers.”
Private equity fund Endless, which in addition to Leeds has offices in Manchester and London, is a responsible investor which takes pride in protecting employment, supporting growth and encouraging entrepreneurship.
Endless partner, Matthew Jubb, said: “We are very pleased to provide further support to the Amscan International management team and we warmly welcome Ben and his colleagues to the group.
“We believe that their new partnership will allow both Amscan International and Ginger Ray to each accelerate their already ambitious growth plans.”