Dream takeover deal for character textile specialist
Character textile specialist Dreamtex, which works with major entertainment companies including Universal, has completed a share purchase deal with Danish company SkyBrands A/S, giving its owners a 100% stake and taking back full control of the business.
Dreamtex manufactures licensed character merchandise, managing a range of brands for major entertainment companies including Universal, the BBC, Entertainment One and MGA Entertainment.
Recent licence wins include Call of Duty, L.O.L. Surprise, Little Mix and PJ Masks which it recently created a car shaped duvet cover for.
The Lancashire-based company supplies all the main UK retailers such as Amazon, Asda, Tesco, Argos, Claires and Primark and will continue to work closely with partners in Europe.
Managing director Anthony Duckworth said: “This exciting acquisition frees the company up to expand beyond the UK territory for future licensing agreements, as we look to expand our current brand portfolio across Europe. Our fresh approach to licensing and the retail market has given us the steady growth and financial stability to enable us to complete this deal. This is also thrilling news for our staff and partners as we look to secure more contracts through 2018 and 2019.”
The terms of the deal, which have not been disclosed, were backed by Barclays Bank with the advice of Caroline Litchfield at Brabners, Manchester and Mark Critchlow at Clearview Corporate Advisory.
Ian Shelmerdine, business relationship manager for Barclays in Lancashire, said: “Barclays is committed to supporting the ambitions of quality management teams so it’s fantastic to see transactions like this taking place. Dreamtex is a privately-owned business which has grown steadily in the last five years and I look forward to watching the business grow further as they enter new markets.”
