Collectibles business snapped up in transatlantic takeover deal
A Lancashire global distributor of trading cards, toys, games and collectibles has been acquired by US-based Peachstate Hobby Distribution (PHD) for an undisclosed sum.
Blackburn-based Bliss Distribution is now part of PHD, an international distributor of sports cards, entertainment cards, collectible card games, board games, miniatures and hobby-related supplies.
Based in Orlando, Florida, PHD has six locations, along with global locations for Coqui Hobby Distribution, in Sao Paulo, Brazil and PHD HK in Hong Kong.
Jim Grant, managing director of PHD, said: “We could not be more excited to enter the UK and EU markets through this acquisition and feel we have the perfect match with Bliss.
“The staff have experience, passion and dedication to providing customers with the absolute best buying experience in Europe.”
He added: “The European sports card market is expanding and has enormous potential for growth. PHD plans to be on the forefront of providing retailer and breaker support for sports trading cards.”
Cathryn Dunstan, director of Bliss, said: “I am incredibly proud of the growth that the company has achieved over recent years and the reputation that it has built within the toy and hobby sectors.
“As a result of this success, it became clear that the time had come for the business to be part of a larger organisation.
“PHD is the perfect company to take Bliss to the next level. The business has a wealth of experience that will ensure the company’s continued growth and both the team and I are excited to be a part of the PHD family.”
She added: “I would like to take this opportunity to thank our suppliers, customers and the team at Bliss, as without their support this would not have been possible.”
Bliss was advised on the transaction by Beever and Struthers, led by corporate finance director Dean Curtis and supported by corporate finance assistant manager Patrick Wilson.
Legal advice was provided by a team at Farleys, led by corporate partner Debbie King, assisted by Amy Duncan and Victoria Mitchell on employment law aspects of the transaction and Olivia Hepworth on commercial property.
Legal advice to PHD was provided by a team at Blake Morgan led by corporate partner Mathew Wilson, while Francis Clark at PKF Francis provided financial due diligence support.
Dean Curtis, at Beever and Struthers, said: “This acquisition represents the continued appetite for overseas buyers to invest in quality UK-based companies.
“From the outset, it was clear that PHD was a great fit for the business. PHD has acquired a fantastic business that will enhance its global footprint and product offering. Bliss has achieved significant growth over recent years and this transaction with PHD will see the business continue to scale over the years ahead.”
Debbie King, of Farleys, said: “We were delighted to assist Cathryn with the sale of Bliss, having also assisted with the acquisition of the company five years ago.
“It has been a pleasure to see it develop into the hugely successful company it is today and we are excited to see what the future holds for it as part of PHD.”
