One of the world’s most well-known gift companies, Enesco, has been sold to Los Angeles-based private equity firm, Balmoral Funds.
The senior managing director of Balmoral, Jonathan Victor commented: ““We are excited to welcome Enesco to the Balmoral Fund family of consumer product companies,” says Jonathan Victor, Senior Managing Director at Balmoral. “The Company’s portfolio includes highly recognized company-owned brands, such as Gund, Department 56, Our Name is Mud, and Gregg Gift, as well as iconic licensed brands like Jim Shore, Disney, Britto, and Peanuts.”
Todd Mavis, an operating advisor for Balmoral, became the CEO of Enesco with immediate effect upon completion of the acquisition. Mavis, who specialises in growth opportunities, was recently CEO of Katun Corporation and First Advantage Corporation.
“There are many reasons to be excited about joining the company; great brands, global reach, and an experienced management team,” said Mavis. “I am looking forward to working closely with our licensors, retailers, and suppliers to meet the needs of our consumer customers.”
Tom Bowles, the outgoing CEO, will be retiring after successfully leading the business for the last five years. He will continue to work with Enesco in a consulting capacity to help insure a smooth transition of leadership.
Serving more than 40,000 customers worldwide, Enesco designs and distributes consumer products to a broad range of independent card and gift retailers and home decor stores, as well as national retail chains and department stores.
Enesco will once again have a major presence at Spring Fair, exhibiting within Gift Hall 4 Stand H90 – J91.
Image: a Nativity scene from Enesco’s Willow Tree brand
