Ginger Ray acquired by Amscan International
Party products retailer Ginger Ray has been acquired by Amscan International.
The move marks Amscan’s second acquisition in two months following the purchase of German foil balloon printing technology business Luftballon-Markt in August. It also follows the wholesale party supplier’s management buy-out in January, which was supported by Leeds-based private equity fund Endless.
Amscan International chief executive 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.”
In addition to selling through its own website, Ginger Ray’s products are stocked by over 600 retailers worldwide. The £20 million turnover company will continue to operate under its own trading name following the acquisition. In addition, the existing Ginger Ray team, including Spence, will all remain in their current roles.
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.”
With a turnover of £200 million, Amscan employs more than 300 people in the UK and 2,500 worldwide.
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.”
