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Wednesday, April 16, 2014
News Making Money

Greeting cards' retailer makes acquisition with funding from Barclays

10/12/2012 00:21 (492 Day 04:16 minutes ago)

The FINANCIAL -- Cardzone Limited announced the acquisition of family-owned Special Occasion Limited alongside the launch of their 60th retail outlet with funding from Barclays.

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CardZone Limited, which also trade as Paper Kisses, is headquartered in Nottingham and has outlets across the UK. The acquisition of Special Occasion (Greetings) Limited will add a further 15 outlets across the Cotswolds and Welsh Borders. The chain stores retail greeting cards, gifts, wrapping essentials, candles and in some outlets Thornton’s chocolates.

Paul Taylor, Chief Executive at CardZone Ltd said: “Acquiring Special Occasions and also launching our 60th retail outlet in Hull is a major milestone in the company’s history – we’ve been looking to expand for some time and this business is a natural fit with our existing stores. It’s great that our new bank Barclays has been so supportive in the current climate and we look forward to working with them as we seek to grow the business over the coming years.”

The new group now employs 190 staff and expects turnover to increase to £9m. As Barclays reported, the new Hull store employs 18 locally and will retail cards, wrapping paper and gifts.

Ian Green, Barclays Relationship Director commented: “It’s great to see a retail business bucking the economic trend and thriving in the current climate. The future looks bright for this forward thinking and ambitious business as they continue to increase their position within their chosen market.”

 

 

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