Fri, 02 Dec 2016 | MBO/MBI
One of the UK’s leading toy importers has been acquired in a management buy-out (MBO).
KandyToys, which also imports gifts, beach goods and confectionery, was established by David Kirkby and Andrew West in 1978 and supplies amusement parks, national wholesalers, supermarkets and high street chains.
The firm turns over more than £17 million and is based at a 250,000 square foot warehouse space in Clyst St Mary, Exeter. It also has offices in Hong Kong.
As a result of the MBO KandyToys’ management team - managing director Gary Beswick, finance director Mark Hookaway and operations director Freddie Martin - will have a shareholding in the business, with Mr Kirkby becoming chairman.
A company called Planet Direct Limited will also become part of KandyToys on completion of the deal.
Mr Beswick said: “Having worked closely with David and Andrew for over 20 years it is a fantastic honour to have been entrusted to put together a team to take over KandyToys and lead them forwards into new challenges and a new chapter in the growth of such a well-established and respected company.”
Funding for the deal was provided by HSBC. Paul Crocker, corporate finance partner at PKF Francis Clark, which advised on the deal, said: “KandyToys is an impressive and highly successful business led by an experienced management team who have worked within the business for a long period of time.
“We’re delighted to have advised on the deal, especially as it enables the management team to take the momentous step of owning the business, rewarding many years of loyalty. It’s a testament to both David and the team that the business continues to go from strength to strength.”
Find wholesale and distribution businesses for sale.
A well-established UK distributor renowned for high-quality bicycle components and accessories, serving both retail and trade customers nationwide, is available for acquisition.
This well-established specialist glazing business in Derbyshire boasts over 30 years of success, supported by a well-presented showroom and ample storage.
This well-established car sales and garage business in Nottinghamshire offers a superb reputation supported by positive online reviews and occupies a prominent position on a main road in Worksop.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.