Mon, 29 Apr 2013 | BUSINESS SALE
Discount card retailer Card Factory is being prepared for a sell off to the tune of £600 million, the Sunday Times reported.
Its private equity owner Chapterhouse has hired Goldman Sachs to sound out interest from other private equity buyers, for the 650-store business.
Married pair Dean and Janet Hoyle set the business up in 1997 in Wakefield, West Yorkshire, by selling wares from the back of a van. Mr Hoyle is the owner of Huddersfield Town football club.
The pair pocketed £350 million when they sold the business to Chapterhouse three years ago.
Card Factory has done well in the recession, selling its discounted cards to cash-strapped customers, while its rivals, such as Clinton Cards, have floundered.
The retailer recorded a turnover of £265 million with £64 million in earnings for the year ending January 2012. At the time it had 611 stores with “significant further roll-out potential". Its chief executive Richard Hayes added in the accounts that the business had remained strong due to a low average spend, despite rising online competition.
Speaking to Insider Media back in November, Dean Hoyle attributed the success of the business to staying “very much below the radar” and being quiet about its profits amongst rivals. “I always have this fear that those who shout the loudest fall the hardest,” he said.
The firm overcame adversity in 2005 when faced with increasing costs from suppliers by establishing a working relationship with a design company and beginning to make its own cards. “That was the making of Card Factory,” Hoyle said.
____________________________________________________________________________
Related news:
Clinton Cards sale deadline approaching
Card Factory sold to Charterhouse
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
18
|
Apr
|
Household goods retailer Lakeland undergoes a management buyout | MBO/MBI
Windermere-based family-owned household goods retailer, Lake...
17
|
Apr
|
Manchester tech firm Wakelet bought out of administration | BUSINESS SALE
A Manchester technology company has been bought out of admin...
17
|
Apr
|
Nutrition company Science in Sports bought by investment firm for £82 million | BUSINESS SALE
Nutrition specialist Science in Sport (SiS) has agreed to be...
17
|
Mar
|
Powerhouse legal tech firm ShareDo snapped up by Clio | BUSINESS SALE
“Powerhouse” legal case management platform Shar...
07
|
Jan
|
Aston Lark Acquires Corporate Healthcare Specialist | BUSINESS SALE
Insurance broker Aston Lark has acquired Leicestershire-base...
11
|
Sep
|
McLaren plots sale and leaseback of iconic Surrey HQ | COMMERCIAL PROPERTY
Supercar and F1 racing group McLaren has engaged property ag...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.