Gift Universe, the parent company of Menkind, a gift and gadget retailer, has acquired the gift industry brand Prezzybox.
The acquisition will keep the amount private and allow the company to expand its reach into the women’s gift market, along with Menkind’s male-centric proposals.
Following the recent acquisition of Hawkins Bazaar, this is driving a strategy of “developing highly specialized and targeted products in the gift market.”
The family-owned Prezzybox was founded in 2000 with the goal of “creating moments of happiness by providing something extraordinary.”
The acquisition does not see “a major change in Prezzybox as the company maintains its brand name, identity, spirit and value proposition.” Gift Universe aims to take advantage of synergies in terms of purchasing, marketing and financing for the benefit of the company and its customers.
Barney Edwards, Commercial Director of Prezzybox, said: As a family, we have put a lot of effort into building our business. We are pleased to hand it over to a company that can help us realize that potential.
“We thank all the outside stakeholders for their cooperation, and most importantly, we would like to thank many team members over the years. From a small family business to a big business. Despite growing up, we have always felt like one big family. “
Paul Kraftman, CEO of Gift Universe, said: The acquisition of Prezzybox will enable us to continue to expand our customer base by developing and growing our products, providing additional opportunities to expand our foothold in the gift industry. “
https://www.retailsector.co.uk/629919-gift-universe-acquires-prezzybox/ Gift Universe Acquires Prezzybox | News