Katy Sue Designs acquires again.
Katy Sue Designs, the award winning South Shields based Craft Manufacturer and Retailer has completed its second acquisition of 2019. Having earlier this year acquired Paper Craft brand Craft Creations, the company has now completed a deal to acquire local MDF and Acrylic business Acrylic Crafts. The deal means the combined company now has 30 staff and expects revenues to be beyond £2m this year, 200% growth on the previous year.
Commenting on the deal Sue Balfour CEO of Katy Sue said “We have been working with Acrylic Crafts for a number of months now, and recently launched a range of MDF shapes which sold incredibly well on TV. Our highland Cow was particularly popular in Scotland, where it has become a symbol of the country's heritage. We expect to launch new MDF and Acrylic products shortly and are looking forward to working closely with Phil Davies and his experienced team.”
Phil Davies, MD of Acrylic Craft, commented: “We quickly saw the benefit of combining resources with Katy Sue Designs, using their digital marketing capability to grow our online sales whilst taking advantage of the huge investment they have made in their sophisticated warehousing and dispatch capability. Having invested significantly ourselves in manufacturing capacity, bringing our laser cutting machines up to 7, we now believe we can double our business over the next 12 months following this deal”.
Katy Sue Designs has set ambitious growth plans, aiming to build a £10m revenue business employing over 100 staff within 5 years. Having secured investment in late 2018, the business has seen sales growth of over 200% and is on an acquisition journey to build out the business, consolidating a highly fragmented UK craft market.