Acquisition will expand portfolio of products offered by Cartamundi to customers and enhance global reach.
Cartamundi has signed an agreement to buy The United States Playing Card Company (USPC) from its parent company Newell Brands. USPC’s focus is on North America and Spain; through this acquisition, Cartamundi continues to invest in the global entertainment market.
USPC, owner of iconic brands such as Bicycle, Bee, Hoyle and Fournier, employs over 350 people and has manufacturing facilities in the US and Spain. In 2018 USPC realised net sales of approximately US$112m.
“We are excited about the opportunity and look forward to welcoming The United States Playing Card Company to the Cartamundi group,” said Stefaan Merckx, CEO of Cartamundi. “USPC is a globally renowned company and, like us, has a passion for its products and consumers. The segments in which USPC operates are perfectly complementary to those of Cartamundi. This investment will further deliver on Cartamundi’s purpose of sharing the magic of playing together towards consumers worldwide.”
Michael Slaughter, CEO of USPC, added: “We are delighted about the prospect to join forces with Cartamundi and leverage both companies’ rich history and passion for card making, as well as our complementary global presence. We look forward to working together in furthering our shared ambition to delight consumers across the globe.”
Cartamundi wants to expand its geographic reach through new countries and new channels. This proposed acquisition is a logical step forward, as USPC is a strong player in the growing cardistry, casino and specialty playing cards segments. The combined company will employ 2,500 people and operate 13 state-of-the-art manufacturing facilities across four continents. As such, Cartamundi has a strong commitment to its customers, but also to the local economy and the environment.
“Consumers from different regions have different needs. The best way to serve them is to rely on the knowledge and experience of our local teams,” said Stefaan.
The transaction is expected to close in the second half of 2019.