(left to right): Jo Duckworth, Andrew Downie, Anthony Duckworth and Ian Shelmerdine from Barclays
Character textile specialist Dreamtex Ltd have completed a share purchase agreement with Danish company SkyBrands A/S, which sees founders Anthony Duckworth, Andrew Downie & Jo Duckworth now owning a 100% stake and taking back full control of the company.
Dreamtex manufactures licensed character home textiles, managing brands for entertainment companies like Universal, the BBC, Entertainment One and MGA Entertainment amongst others. Recent licence wins include Call of Duty, L.O.L. Surprise, Little Mix and PJ Masks which it recently created a car shaped duvet cover for.
The Lancashire-based company supply UK retailers such as Amazon, Asda, Tesco, Argos, Claires and Primark and will continue to work closely with partners in Europe.
Managing director, Anthony Duckworth, said: “This exciting acquisition frees the company up to expand beyond the UK territory for future licensing agreements, as we look to expand our current brand portfolio across Europe. Our fresh approach to licensing and the retail market has given us the steady growth and financial stability to enable us to complete this deal. This is also thrilling news for our staff and partners as we look to secure more contracts through 2018 and 2019.”
The terms of the deal, which have not been disclosed, were backed by Barclays Bank PLC with the advice of Caroline Litchfield at Brabners, Manchester and Mark Critchlow at Clearview Corporate Advisory Ltd.
Ian Shelmerdine, business relationship manager for Barclays in Lancashire, said: “Barclays is committed to supporting the ambitions of quality management teams so it’s fantastic to see transactions like this taking place. Dreamtex is a privately-owned business which has grown steadily in the last five years and I look forward to watching the business grow further as they enter new markets.”
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