Giftware, home décor, and accessories company Enesco has acquired most of the business assets of US-based gift retailer Things Remembered.
The transaction covers 176 stores, online, direct mail, and B2B retail businesses of Things Remembered.
The deal was announced last month when the gift retailer filed voluntary petitions under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware in an effort to facilitate the sale.
Enesco CEO Todd Mavis said: “Things Remembered is an ideal complement to our business, and we are excited about working with Things Remembered president and CEO Nelson Tejada and his team as they build on their more than half century of leadership in the personalised merchandise space.
“With Things Remembered’s personalisation capabilities, we will offer the market unique and compelling products and services.”
Enesco will continue to operate the gift retailer under the same brand and will retain approximately 1,400 jobs.
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In addition, Things Remembered will continue to serve its customers and businesses with personalised products with support from Enesco.
Tejada said: “This transaction with Enesco will allow us to enhance our product offerings and customer experience. We are confident that we now have the right operational and financial structure in place to drive sustainable growth in the months and years to come.”
Headquartered in Itasca, Illinois, Enesco offers a range of products through specialty card and gift retailers, home décor boutiques, and online retailers to more than 44,000 customers globally.
It is known to design and license brands such as Department 56, Heartwood Creek by Jim Shore, Disney, and Harry Potter.