Transatlantic transaction sees Lancashire firm Bliss become part of Florida-based PHD
Accountants and business advisors Beever and Struthers have successfully advised Bliss Distribution Limited on its sale to Peachstate Hobby Distribution (PHD) LLC of the USA.
Based in Blackburn Lancashire, Bliss, a leading UK-based distributor of trading cards, toys, games, and collectibles to businesses around the world, has become part of PHD Group, a global distributor of sports cards, entertainment cards, collectible card games, board games, miniatures, and hobby-related supplies, based in Orlando, Florida.
PHD has six US locations, along with global locations for Coqui Hobby Distribution in Sao Paulo, Brazil and PHD HK in Hong Kong.
Bliss was advised by Beever and Struthers, led by corporate finance director Dean Curtis and supported by corporate finance assistant manager Patrick Wilson.
Legal advice was provided by a team at Farleys led by corporate partner Debbie King, assisted by Amy Duncan and Victoria Mitchell on employment law aspects of the transaction and Olivia Hepworth on commercial property.
Legal advice to PHD was provided by a team at Blake Morgan led by corporate partner Mathew Wilson, while Francis Clark at PKF Francis provided financial due diligence support.
Jim Grant, managing director of PHD, said: “We could not be more excited to enter the UK and EU markets through this acquisition and feel we have the perfect match with Bliss. The staff have experience, passion and dedication to providing customers with the absolute best buying experience in Europe.
“The European sports card market is expanding and has enormous potential for growth. PHD plans to be on the forefront of providing retailer and breaker support for sports trading cards.”
Cathryn Dunstan, director of Bliss said, “I am incredibly proud of the growth that the company has achieved over recent years and the reputation that it has built within the toy and hobby sectors. As a result of this success, it became clear that the time had come for the business to be part of a larger organisation.
“PHD is the perfect company to take Bliss to the next level. The business has a wealth of experience that will ensure the company’s continued growth and both the team and I are excited to be a part of the PHD family.
“I would like to take this opportunity to thank our suppliers, customers and the team at Bliss as without their support this would not have been possible.
Cathryn added: “I would also like to express my thanks to Beever and Struthers and Farleys for their help, support and advice. They worked tirelessly to ensure that the sale completed as smoothly as possible which enabled me to remain focused on running the business throughout the process.”
Dean Curtis said: “This acquisition represents the continued appetite for overseas buyers to invest in quality UK-based companies. From the outset, it was clear that PHD was a great fit for the business. PHD has acquired a fantastic business that will enhance its global footprint and product offering. Bliss has achieved significant growth over recent years and this transaction with PHD will see the business continue to scale over the years ahead. We wish the business and the team all very best for the future”.
Debbie King added: “We were delighted to assist Cathryn with the sale of Bliss, having also assisted with the acquisition of the company five years ago. It has been a pleasure to see it develop into the hugely successful company it is today and we are excited to see what the future holds for it as part of PHD. We wish everyone involved the best of luck.”
