Findel has confirmed the acquisition of The Cotswold Company Ltd
for £100,000 in cash. “The Cotswold Company is an
exciting addition to our new cash with order division which also
includes the successful acquisitions of Letterbox, IWOOT, Kitbag
and Confetti,” Patrick Jolly, Findel plc’s chief executive,
told CEB. “We have bought the brands to develop an overall
offering for the ABC1 customer who is keen to shop online and via
a traditional catalogue. The Cotswold business has grown by more
than 30 per cent in the last two years and I believe Findel can
offer it extra support to continue its rapid growth. The ability
and opportunity to cross-market to the other businesses forms a
key part of our ongoing strategic plans.”
The Cotswold Company has provided the “cash with
order” division with 200,000 24 month buyers, some of whom
have already purchased from Findel’s existing brands. A
spokesperson for Findel added, “Whilst we won’t throw money
at it, it’s now part of a larger organisation which can get much
greater economies of scale and we can invest more money into the
brand to accelerate that growth further to new customers. We can
also look at ways of bringing past customers back again”.
Findel has said that Andrew Shapin will continue as managing
director and the brand will retain its Great Rissington base.
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