A Blackburn-based distributor and manufacturer of toys and collectibles has been bought out by a major European company.
Heathside Trading has operations in the UK and the Netherlands and has been acquired for an undisclosed sum by SAGA Invest. The deal was advised by accountants and business advisors Beever and Struthers.
Heathside, located at Walker Industrial Estate, is said to have experienced rapid growth over the last few years and is well known for its pop culture and licence-based brands, Khadou and Master Replicas.
These brands work alongside famous film, TV and gaming names such as South Park, Minecraft, Harry Potter, Battlestar Galactica, Star Trek and Doctor Who.
Following the sale, Robert Myers, co-founder will retire.
He said: “After so many years, I am delighted to hand over the reins to the next generation.
"Under the management of SAGA Invest and the rest of the leadership team, I know the business is being left in the most capable of hands, and I look forward to following the company’s success moving forward.”
Co-founder John Nelson will serve as interim CEO until the beginning of 2025.
Gregory Benassar will become co-CEO, with shareholder Darren Epstein (EVP Global Business Development), Max Nelson (Head of Sales) and Simon McIntosh (Finance Director) remaining on board.
Mr Epstein added: “We were approached by several companies at the back end of 2023 and the shareholders decided to move to exclusive discussions with Saga during the Nuremberg Toy Fair.
"Given the team’s background and their focus on growth, it made sense to move forward with SAGA Invest.
"We wanted partners who would bring focus to what we have built at Heathside over the years. We believe that over the next 12 months, our retail partners will see even more reason to work with us on our portfolio of product ranges.”
Gregory Benassar, from SAGA Invest, added: “We are building a Pan-European distribution and manufacturing solution at the intersection of toys, collectibles, and other licensed goods.
"As such, we are delighted to complete our purchase of Heathside, a very successful company within all these segments. We are entrepreneurs at heart, and we see that as core to the Heathside business. We wish to continue and enhance that philosophy.”
‘’The experience of these veterans of pop culture formats proves to be a very exciting prospect for the future growth of Heathside, Khadou and Master Replicas,’’ added Mr Epstein.
The team at Beever and Struthers was led by corporate finance director Dean Curtis, with support from corporate finance manager Patrick Wilson, and tax partner Ann Bibby.
Mr Curtis, corporate finance director at Beever and Struthers, added: “We’re incredibly pleased to have delivered this transaction, especially in a tough market.
"We supported the business in sourcing the right strategic partner for Heathside to continue its international growth journey. This is a strategic move and will open up significant opportunities for Heathside.
"It has been a pleasure to work with the shareholders to help them achieve their goals and we look forward to seeing the business grow from strength to strength under new ownership”.
Legal advice was provided by Farleys, led by corporate partner Debbie King and associate solicitor Amy Jones.
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