Tobar has detailed the completion of a management buy out led by David Mordecai (CEO) and Glyn Loveday (FD).
The acquisition – backed by Merino Private Equity – arrives as the toy company looks towards its next stage of national growth.
Mordecai has revealed high aspirations for the firm under the new deal, declaring the acquisition as the latest step in the firm’s exciting plans for the future.
“We are thrilled to be partnering with Merino who believes in the strategic direction and passion of the company and the next stage of growth,” he said.
“We have worked hard in recent years to build the business and this is an exciting time for all of us.”
Managing director for Merino, Mark Colley, added: “We are delighted to announce our acquisition of Tobar.
“We are excited to be supporting David, Glyn and the rest of the management in achieving their ambition to realise the next stage of growth for business.”
Tobar has thanked its customers and suppliers for their support over the recent years, and believes the future is bright for the trading group and the Tobar, Hawkins Bazaar and Stocking Fillers brands within it.