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Benchmark International Successfully Facilitated the Transaction Between Garlanna Limited and Card Factory plc
September 24, 2024
Benchmark International is proud to announce the acquisition of Garlanna by Card Factory.
With its headquarters based in County Wicklow, Ireland, Garlanna takes pride in fostering a respectable online and in person community with its wide range of tastefully designed greeting cards, gift wrap, gift bags and related accessories for all occasions year-round.
Card Factory, specialising in the same industry, offers great value for personalised cards, gifts, balloons, gift wrap and party supplies. The company’s revenue strengthened in the first six months to July 2024, reaching £233.8 million, up from £220.8 million. Meanwhile, like-for-like sales were up 3.7% and online sales grew 8.8% in the same period.
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The specialist card retailer has signed a multi-year agreement with Aldi to be the exclusive everyday greeting card supplier across the UK and Ireland, as well as entering the US market with a wholesale partnership as it expands overseas. It is also in advanced discussions to renew a multi-year partnership with The Reject Shop in Australia
Following the acquisition of Garlanna Limited, chief executive of Card Factory, Darcy Willson-Rymer stated: “I am delighted to be reporting further progress against our growth strategy with this resilient underlying performance in the first half of the year. We continue to deliver against our strategic priorities at pace thanks to the commitment and dedication of our colleagues.
"During the period, we continued to see strong performance across our growing store estate, with gifts and celebration essentials now a core driver of revenue growth, building on our strength in greetings cards. Together with the exciting partnership initiatives we are announcing today, we are helping more customers in more places celebrate life's moments.”
“Moving forward, we believe we are well placed with a strong proposition that resonates with a broad customer base and delivers an unrivalled quality, value and choice offering.”
Alex Cregan, associate director and lead on the transaction at Benchmark International, said: “The FMCG industry in Ireland remains a dynamic and crucial part of the national economy, poised for continued growth and innovation. As companies navigate challenges and capitalise on emerging opportunities, the sector will likely see new trends in consumer preferences and technology. In relation to greeting cards, the sector is seeing a change in customer trends with emerging technology and convenience shopping. In order to capitalise on these trends, acquisitions in the sector have been common in order for larger players to diversify their offering.
“We would like to extend our congratulations to Alan and Jackie on this acquisition, along with Card Factory. This alliance will, no doubt, provide a very strong service to their customers going forward.”
Sell side advisers on the deal were Alex Cregan, Cian Murphy, Emma Barrett, Andrew Cummins and Kelly Hanley, Benchmark International (deal advisory); Dennis Duffy, Ecovis (accounting); and Kieran Regan, Sarah Connolly and Sinead O’Connell, Regan Wall (legal).
Buy side advisers were John Olden, Doreen Mescal, Paul Martin, Adesewa Okesiji and Molly Sheridan, Addleshaw Goddard (legal).
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