Card Factory has acquired the South African greetings cards and gift packaging wholesaler SA Greetings as it looks to expand into overseas markets.
The greetings cards retailer has purchased SA Greetings Corporation and its subsidiaries for £2.5m.
SA Greetings has 24 retail stores in South Africa, with four further stores operated by franchisees, and owns and operates a production facility.
Card Factory said the acquisition supports its expansion plans in South Africa as it gives “access to key wholesale accounts through the company’s printing, merchandising and warehousing capacity”.
Card Factory chief executive Darcy Willson-Rymer said: “We are delighted to have completed the acquisition of SA Greetings and look forward to working with our new colleagues.
“Under the continued leadership of SA Greetings managing director Willie Engelbrecht, we will closely collaborate to further enhance and develop opportunities for the Card Factory and SA Greetings businesses.
“SA Greetings brings with it significant experience operating a wholesale business, which can inform and support development of our retail partnership business and is entirely aligned with Card Factory’s strategic plan for international expansion.
“As well as giving us a foothold into our target South African market, we will also be using their mature printing, merchandising and warehousing facilities to understand how we can deliver similar local capability in other target markets.”
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