GREETINGS card shop chain Birthday's has been taken over.
The Bury-based firm has been sold by existing shareholders -- 3i, PPMV and Permira -- in a multi-million pound deal to a retail consortium that includes entrepreneur Chris Gorman and the West Coast Capital organisation.
It is not believed any jobs will be affected by the sale, which was completed for an undisclosed sum.
The Birthday's chain was founded in 1966 and has more than 500 stores, including more than 100 Partyland outlets.
It employs 3,500 people in the UK and Ireland. Turnover in the financial year to June 2003 was £144m.
Mr Gorman, who is chief executive of Gadgetshop, said: "This is a business with significant potential but as always a number of challenges. We look forward to building on the Birthdays and Partyland brands, supporting staff and offering exceptional products and service to our customer base."
Partner Tom Hunter, of West Coast, said: "Birthdays fits well with our portfolio and represents a good long-term investment for West Coast."
Birthday's and Gadgetshop recently entered into a cross-selling partnership and interest from Mr Gorman grew as a result.
Although the two businesses will remain independent of one another, the partnership will continue.
Iain MacRitchie Birthday's chairman added: "This is excellent news for Birthdays with the new investors fully committed to further growing the Birthdays market position.
"The combination of skills and experiences is a powerful mix and will give the company a wonderful opportunity."
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