// Card Factory acquires greetings card and gift packaging wholesaler SA Greetings for £2.5m
// The retailer said the deal would help grow its presence in its target South African market
Card Factory has snapped up South African-based SA Greetings for £2.5m as it looks to tap into new markets overseas.
The card retailer said the acquisition of the greetings card and gift packaging wholesaler would help grow its presence in South Africa.
SA Greetings is the leading wholesaler of greeting cards and gift packaging in the country and also operates 24 ‘Cardies’ retail stores with four further outlets operated by franchisees. It also owns and operates a roll-wrap production facility.
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As part of the deal, Card Factory will work closely with SA Greetings managing director Willi Engelbrecht to enhance and develop opportunities between the businesses.
Card Factory chief executive Darcy Willson-Rymer said: “SA Greetings brings with it significant experience operating a wholesale business, which can inform and support development of our retail partnership business and is entirely aligned with Card Factory’s strategic plan for international expansion.
“As well as giving us a foothold into our target South African market, we will also be using their mature printing, merchandising and warehousing facilities to understand how we can deliver similar local capability in other target markets.”
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