The party product manufacturer has taken over the celebrations brand which is said to have a £20m turnover.
Amscan International has acquired party brand Ginger Ray as part of its ambitious strategic growth plans.
It marks the second acquisition in two months for the Milton Keynes based company, which has a turnover of £200m and employs 2,500 people worldwide, following the purchase of Germany-based foil balloon printing technology business Luftballon-Markt in August.
Commenting on the latest deal, 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 30 employees and is based in Surrey. The company has been in business for eight years, with a party product range that is stocked by 600 retailers worldwide, from 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 eCommerce 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. Ben commented: “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.”
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.”