PARTY NEWS
NEWS UPDATE Amscan International’s turnover hits £300m with acquisition of Sweden’s Party King
Amscan International has acquired Swedenheadquartered online retailer, Party King, to support its worldwide growth plans by further expanding in the Nordics.. The designer, manufacturer, distributor, wholesaler and retailer of party products acquired the business for an undisclosed sum and now has a turnover in excess of £300m. The founders and owners of Party King, Joel Svensson and Jeff Jansson, will continue to run the business from its 53,820 sq ft (5,000 sq m) warehouse and office facility in Gävle, Sweden. Party King has revenues of £30m, which are expected to grow by around 20 per cent this year, and has also increased sales by over 50 per cent in the last three years. The business operates four websites across Sweden, Denmark, Norway and Finland. The deal also sees Amscan International increase its ecommerce revenues overall, with online sales now accounting for more than £100m of the company’s £300m turnover. Party King was established in 2009 and employs 80 people, all of whom have been transferred to Amscan International. Joel Svensson originally founded Party King as a gift to his mother, Eva, as she
was unemployed and needed a job. Amscan International chief executive, Joe Hennigan, said: “Party King is a very strong and well invested brand in the Nordics. It is a market where we have minimal presence but have long had hopes of expanding further within. “It is a brand that increases our online revenues to more than £100m and could be leveraged across our other commercial markets. Continuing to accelerate our direct-to-consumer revenues and building our brand portfolio are two key pillars of our strategic plan, so Party King is an ideal acquisition in supporting those goals. “Joel and Jeff have built an exciting, dynamic and professionally run business and we will be working with them to further evolve the Party King brand, product and service offer within the Nordics and beyond.” Amscan International managing director of European retail, Claire Grasby, added: “We have long admired and respected the growth of Party King and are excited by the opportunity to further bolster our e-commerce capabilities. “I’m looking forward to further developing the Party King brand and see vast opportunities for our e-commerce team to support, and learn from, the Party King team.” Party King chief executive, Joel Svensson, commented: “This is a great deal for both businesses which gives Party King the opportunity to supercharge its growth. “All of us are very excited and energised by the thought of what the future holds. We can’t wait to start making it a reality alongside Joe, Claire and the team at Amscan International.” Left: Amscan acquisition – From left to right – Joe Hennigan, Claire Grasby, Joel Svensson and Jeff Jansson.
Above: Peter Silver is the new head of sales at Rubies
Rubies hires Peter Silver as head of sales As Rubies continues to deal with unprecedented growth and demand, the company has announced the hire of a new senior team member, with Peter Silver joining as head of sales. Peter joins Rubies from Mattel, where he was senior national account manager. He has previous experience of working at Warner Bros and brings a wealth of experience in sales and negotiation skills, forecasting and strategic planning. Reporting directly to Graham Gardiner, Rubies’ commercial director, Peter will be responsible for managing and overseeing the UK sales operation and will be a pivotal force in helping the business achieve and exceed its ambitious growth plans. Graham Gardiner, commercial director for UK, central, eastern and northern Europe, commented: “As the business continues to go from strength to strength and grows to new levels, we are excited to be bringing in a new valuable senior team member to our account management and sales team. “Peter has come from a very distinguished background within the industry and has years of experience in his respective fields. With his indepth knowledge of every aspect of the retailer and toy markets, I have no doubt he will be a perfect fit for the team.”
Pioneer Europe appoints new product manager Louise Wood has joined the company as product manager for the party category. Bringing with her a wealth of product design and management experience gained with a wide variety of fashion and accessory brands, Louise joined the
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balloon and party company this summer. Julie Dommett, head of marketing, commented: “We are very pleased to have Louise join the marketing team, and look forward to announcing a number of new ranges shortly.”
Right: Louise is the new product manager for party at Pioneer Europe.
For the latest news visit PartyWorldwide.net
30/09/2022 17:43