Heartwarming deal as investors acquire giftware company

Investment business NMC Galaxy has signed a deal to acquire giftware company Heartwarmers.

Management consultancy and retail consumer credit business NMC Galaxy’s chief executive Nasser Malik has bought the business for an undisclosed sum.

It says it will create “a number” of new jobs having acquired an 18,000 sq ft warehouse facility in central Bradford.

Heartwarmers is consolidating its former warehouse facilities in Stalybridge and Pontefract, with existing jobs in the Greater Manchester site being retained. It said that staff will work in association with the new head office in Bradford.

NMC said it had “ambitious growth plans” for the business, which sells plaques, garden signage and other giftware to home shopping channels, garden centres, retailers and department stores.

Additionally, NMC will launch a new direct e-commerce brand to sell the Heartwarmers product range direct to the public.

Heartwarmers’ managing director Peter Legg will retain a minority shareholding in the business and provide ongoing consultancy support.

Malik, also chairman of Malik House Business Centres, said: “Our team is very excited by this latest acquisition to add to our brand portfolio. Heartwarmers peaked previously at over £1m turnover and I am confident of building this into a £3m – £5m turnover business within three years, which will lead to the creation of several additional jobs in the area.”

Pictured: Nasser Malik of NMC Galaxy and Heartwarmers’ Peter Legg

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