Enesco Completes Acquisition of Things Remembered
We are pleased to announce that our portfolio company, Enesco, a global leader in the giftware, home décor, and accessories industries has completed its acquisition of Things Remembered, Inc., the leading omnichannel retailer of personalized gifts and merchandise.
The Things Remembered online, direct mail, and B2B retail businesses, as well as 176 of its stores, will continue to operate under its brand, preserving approximately 1,400 jobs. Things Remembered will now be able to offer consumers an even broader range of personalized merchandise thanks to its affiliation with Enesco, which is known for designing and licensing some of the world’s most beloved brands, including Department 56®, Heartwood Creek® by Jim Shore, Disney®, and Harry Potter™.
“Things Remembered is an ideal complement to our business, and we are excited about working with Nelson Tejada and his team as they build on their more than half century of leadership in the personalized merchandise space,” said Todd Mavis, Chief Executive Officer at Enesco, LLC. “With Things Remembered’s personalization capabilities, we will offer the market unique and compelling products and services.”
“We are excited about what the future holds for our brand, team members and partners,” said Tejada, President and Chief Executive Officer of Things Remembered. “This transaction with Enesco will allow us to enhance our product offerings and customer experience. We are confident that we now have the right operational and financial structure in place to drive sustainable growth in the months and years to come.”
Kirkland & Ellis LLP is acting as Things Remembered’s legal counsel, BRG is the company’s Chief Restructuring Officer, Interim CFO and restructuring advisor, and Stifel, Nicolaus & Co., Inc. and Miller Buckfire & Co., LLC are serving as its financial advisor.
About Things Remembered
Things Remembered is the leading omnichannel retailer of personalized gifts and merchandise for every milestone and the everyday. We help our customers shop when they want and where they want through our full range of online, physical and business-to-business channels. The company’s proprietary merchandise, quality assortments, unmatched in-store experience and employees committed to helping customers bring one-of-a-kind gifting experiences to life set Things Remembered apart and make us consumers’ and businesses’ personalized merchandise partner of choice.
About Enesco
Enesco, LLC is a global leader in the giftware, home décor, and accessories industries. Serving more than 44,000 customers worldwide, Enesco distributes products to a wide variety of specialty card and gift retailers, home décor boutiques, as well as mass-market chains, and online retailers. Enesco’s International Headquarters is located in Itasca, Illinois. With subsidiaries in the United Kingdom, France, Canada, China, and Hong Kong, Enesco serves markets operating in Europe, the Americas, Canada, Australia and Asia.
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About Balmoral Funds
Balmoral is a Los Angeles based private equity fund that was founded in 2005. Balmoral currently has more than $400 million of assets under management and focuses on partnering with talented and committed management teams to invest in and revitalize companies. Balmoral typically invests in companies that have revenues between $30 and $300 million and require equity investments between $5 and $40 million.