Quadpack buys majority share in gifting & promotions company Spirit
Quadpack has just acquired a majority stake in Spirit, a promotional company that provides GWPs (gifts with purchase) and other branded items to the health and beauty industry. Plans are to take the Spirit formula and launch it onto the European stage.
"We saw an opportunity here and we took it", says Tim Eaves, Quadpack CEO.
"Spirit is a highly creative entity that simply needs the structural and operational backing to take it to the next level. Quadpack is uniquely placed to offer that backing and we are confident it won't take long before our investment pays off."
Initial investment in January revealed a natural synergy between Quadpack and Spirit on multiple levels. The companies share the same customer base and offer complementary products to the same industries. While Quadpack intends to integrate certain business functions, however, Spirit will remain a separate entity.
Acquisition of Spirit also allows Quadpack to offer a broader range of complimentary products. Spirit provides a variety of stitch-and-sew bags (cosmetic, brush, clutch, tote, travellers, wash bags, etc) and clothing (dressing gowns, slippers, etc), as well as beauty and spa accessories (muslins, brushes, manicure sets, mirrors, etc), all aimed at enhancing brand image.