Bridgepoint secures exclusive talks with Hobbycraft

The private equity group is in discussions to acquire the retailer for over £100 million.
Author:
Publish date:
Social count:
0
3954_mypictr_300x300.jpg

Following wide interest, the price has risen from the early estimates of £70 million.

A number of other firms were interested in Hobbycraft, including motoring and cycling retailer, Halfords and private equity group Exponent.

Blackstone, owner of the US group Michaels, another arts and crafts retailer, also made the shortlist of bidders, didn't submit a final bid.

HobbyCraft is being sold by the Haskins family, who have been considering a private equity-backed management buy-out, led by Chris Crombie.

The retailer told The Financial Times: "HobbyCraft ... confirms that it has entered exclusive discussions with European private equity firm Bridgepoint to back the management on an acquisition of the business. An update on the sale process will be issued in due course."

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.