A SPECIAL OCCASION FOR CARDZONE AS EXPANSION CONTINUES

Retail News

Cardzone Ltd t/a Paper Kisses have acquired the Gloucestershire based business of Special Occasions Ltd which trades from 14 branches in locations including Gloucester, Witney, Trowbridge, Hereford, Cardiff and Tewkesbury.

The majority of the branches operate with the Hallmark Cards and Thorntons confectionary concessions and these will continue and be further developed as part of the ongoing strategy.

This acquisition brings the total number of stores within the Cardzone portfolio to 64 and further openings are planned along the M5/M42 corridor to link into the established East Midlands store network.

Property advice in respect of the acquisition was handled by FHP Property Consultants who are Cardzone’s retained agents for agency and professional matters and have acted for the Southwell based company for several years.

Mark Bradley, Director of FHP commented:-

“I was delighted to be involved with this significant acquisition for our long standing client Cardzone.  The business has grown steadily over the last few years and doubled the number of trading branches to hit the 50 mark with the recent opening of the Hull store prior to the purchase of the Special Occasions business.

Expansion has been carefully planned in strategic locations when suitable opportunities have arisen from either competitors closing or local independent card retailers seeking to sell their businesses.

Cardzone has a sound core base of permanent leases and the company provides a solid regional covenant for landlords.  Only a handful of stores are occupied on a temporary licence primarily to test the market prior to considering a more permanent lease.

Further expansion is planned in both the established heartland of the business within the Midlands and also to build on the Special Occasions portfolio in that area of the country.”