Brampton, Ontario-based lifestyle company Giftcraft Ltd has been acquired by CID Capital, a U.S. private equity firm, and ORIX Mezzanine & Private Equity, an affiliate of Japanese financial services firm ORIX Corp.
Terms weren’t disclosed.
The deal facilitates Giftcraft’s succession plan and will back its growth opportunities over the next few years, both organically and through acquisitions.
President and CEO Trevor Cohen and Executive Vice-President Gary Polan will remain in their current roles to support the company’s transition.
Founded in 1946, Giftcraft services the product and merchandising needs of a network of more than 25,000 décor and giftware retailers in North America.
Giftcraft Announces Partnership with CID Capital and ORIX Mezzanine & Private Equity
Toronto, Ontario, January 2019
Giftcraft Ltd. is pleased to announce the recent completion of a significant recapitalization and new partnership with CID Capital and ORIX Mezzanine & Private Equity in conjunction with ongoing succession planning and to accelerate the Company’s future growth plans.
According to CEO, Trevor Cohen, “partnering with CID and ORIX will provide Giftcraft with the necessary financial, advisory and support resources to take full advantage of the Company’s considerable growth opportunities over the next several years – both organically and through strategic acquisitions. This partnership also allows Giftcraft to leverage CID’s and ORIX’s considerable experience in consumer products and digital marketing to both retailers and end consumers. We are looking forward to the next phase of growth for Giftcraft and future successes with our new partners.”
Trevor Cohen, CEO and President, and Gary Polan, Executive Vice-President will remain in their current roles to lead the Company through the senior management transition over the next several years. In conjunction with this transaction, Tom Kydd, CFO, will officially retire after 26 years with the Company.
About Giftcraft: Giftcraft is a lifestyle industry leader with over a 75-year history and today services a diverse network of over 20,000 décor and giftware retailers in North America and internationally. With its corporate headquarters, distribution center and showroom near Toronto, Canada, and major showrooms in Atlanta and Las Vegas, Giftcraft sets the standard in innovative design and development of decorative and functional lifestyle products to meet both the décor and giftware needs of today’s savviest retailer and consumer.
About CID Capital: CID Capital makes majority investments in lower-middle-market consumer product companies with a consistent track record of success. CID’s focus is on companies that have the potential to grow significantly through a collaborative partnership with operating managers who have the deep industry experience and high level of motivation needed to build a dynamic entrepreneurial business.
About ORIX Mezzanine & Private Equity: A business unit of ORIX Corporation USA (ORIX USA), ORIX Mezzanine & Private Equity invests control and non-control equity and mezzanine capital or a combination of the two strategies in lower-mid to middle-market companies throughout North America. ORIX USA’s parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 38 countries and regions worldwide.