CID Capital is pleased to announce the recent completion of a recapitalization and new investment with Giftcraft Ltd. in conjunction with ongoing succession planning and to assist the Company's future plans.
Giftcraft is a Toronto-based lifestyle industry leader with over a 75-year history. Today, the Company services a diverse network of decor and giftware retailers in North America and internationally. Giftcraft's innovative design and development of decorative and functional lifestyle products aims to meet both the needs of today's savviest retailers and consumers.
CID partnered with Giftcraft's CEO, Trevor Cohen, and Executive Vice President, Gary Polan, on the transaction. Both Trevor and Gary will remain in their current roles to lead the company over the next several years.
According to Trevor Cohen, "partnering with CID will provide Giftcraft with the necessary financial, advisory and support resources to take full advantage of the Company's considerable growth opportunities over the next several years - both organically and through strategic acquisitions. This partnership also allows Giftcraft to leverage CID's considerable experience in consumer products and digital marketing to both retailers and end consumers. We are looking forward to the next phase of growth for Giftcraft and future successes with our new partners."
Steve Cobb, Managing Director at CID Capital added, "Giftcraft is an exciting opportunity for CID as this investment aligns perfectly with our goal of partnering with great teams to accelerate the growth of proven consumer businesses. Giftcraft's diverse and high-quality product line, combined with a strong leadership team makes us very optimistic about building long-term value. We are ecstatic to partner with Trevor and the Giftcraft team."
HSBC and Orix Mezzanine & Private Equity supported CID in the recapitalization, while Piper Jaffray provided advisory work on behalf of Giftcraft.