Character World sold to US merchandise group
A North West business set up to partner major entertainment brands onto homeware goods has been sold to a US buyer.
Character World Brands – a licensed homeware company, has been acquired by US-based Bioworld Merchandising had been owned by Palatine private equity ever since it backed a £36m management buyout by brothers Mark and Danny Schweiger in 2014.
Based in Cheadle, Greater Manchester, Character World Brands partners include Lego, PlayStation, Peppa Pig and leading Premier League football clubs, to manufacture and supply a wide range of licenced homeware products to retailers across the globe.
In 2023, as the brothers stepped into non-executive roles, CEO James Walker acknowledged the business had been through “a year of turnaround, seeing us re-frame our business for growth”.
In its last set of published accounts to 30 September 2023 the business posted a pre-tax loss of £0.2m (2022: Profit £0.6m), but said its £0.6m EBITDA from sales of £24.5m (2022: £26.7m) underpinned a forecast for the next year to show revenue growth and continued profitable EBITDA generation.
However, financial terms of the transaction were not disclosed. Dallas-based Bioworld will use the acquisition as a springboard for growth in Europe.
Raj Malik, CEO of Bioworld said: “This is a partnership that represents a mutually beneficial opportunity for both companies. By leveraging our global reach and product expertise, we can create significant growth opportunities. This new venture aligns closely with our business and delivers exceptional value for our shared customers while increasing our footprint in the EU.”
James Walker, CEO of Character World Brands added: “Joining Bioworld’s impressive ecosystem will accelerate our growth, allowing us to leverage its scale and support to reach more consumers with our comprehensive home solution.
“We will look to strengthen our home textiles offering as well as continue the growth of our new segments in hardlines that launched in 2025. As a team, we are delighted to become part of a global business that shares the same values and ambitions.”
Bioworld is exploring additional strategic acquisitions, investments, and partnerships to further strengthen its growth platform and continue its trajectory of market expansion and innovation.
Grant Thornton’s North West deals team advised the shareholders and was led by Corporate Finance Partners Pete Terry and Matthew Bryden-Smith and assisted by Cariad Lightfoot, Ammen Arya and Tilly Das-Gupta.
Gateley Legal were the legal advisors to Character World Brands.
Matthew Bryden Smith said: “Character World Brands has an excellent tradition in the licensed brands market place and long-established partnerships with some of the world’s best-known companies, making it an ideal strategic acquisition for Bioworld Merchandising, which is looking to accelerate its growth in the UK and Europe.”
Next Tuesday, theBusinessDesk.com will be interviewing the Schweiger brothers live on stage at a sell out event THE BRAVE AND THE BOLD LIVE in Manchester.
