Merino Private Equity is delighted to announce its acquisition of Tobar Group from Primary Capital.
The Tobar Group is a toy and gift retailer and wholesaler, established in 1973 and headquartered in Norwich. Tobar’s retail operation comprises of Hawkin’s Bazaar stores and website, and the seasonal website Stocking Fillers. Hawkin’s Bazaar currently has 30 permanent stores located throughout the UK, and opened an additional 11 temporary stores this Christmas.
Tobar’s wholesale operation supplies a range of customers from national retailers and supermarkets to independent stores and museums, with high quality and innovative toys and gifts for all ages. Its product range includes Tobar brand products and a range of products that Tobar distributes on behalf of other manufacturers. Tobar distributes its toys worldwide, and has recently established a French office to support sales in Europe.
Merino will be supporting the existing management led by David Mordecai, CEO, and Glyn Loveday, FD, with Mark Colley of Merino joining the board.
Clearwater International advised the shareholders of the Tobar Group on the sale. The team was led by Gareth Iley, supported by associate director Alper Dervish and associate James Clifford.
David Mordecai commented: “We are thrilled to be partnering with Merino for the next stage of growth for Tobar. We have worked hard in recent years to grow the business, and we have high aspirations for the future of the business. This is an exciting time for all of us at Tobar, and we look forward to taking full advantage of the opportunity.”
Mark Colley commented: “We are delighted to announce our acquisition of Tobar. We are excited to be supporting David, Glyn and the rest of the management in achieving their ambition to realise the next stage of growth for the business.”
