A portfolio company of Leeds-based private equity investor Endless has acquired £20m turnover leading party brand Ginger Ray which is based in Weybridge, Surrey.
Amscan International, 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 Milton Keynes-headquartered global designer, manufacturer, distributor and retailer of party products and supplies company’s second acquisition in two months. The first was 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 Endless. The value of all transactions is undisclosed.
Endless partner Matthew Jubb said: “We are very pleased to provide further support to the Amscan International management team and we warmly welcome everyone at Ginger Ray 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.”
Ginger Ray has 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, said: “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.
Ben 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.”