Shoreham-based gift company Paladone has received a £13m minority investment from LDC, a private equity investor, with James Barbour-Smith joining the company as non-executive chairman.
In addition, the company is trailblazing on the environmental front, by launching a range of giftware using Breakdown Plastic (BDP) technology (naturally decomposing plastic) to the global gift trade.The BDP additive makes the products home compostable, naturally decomposable in landfill and recyclable.
The news about both the investment and Paladone’s eco advancements have percolated through to the press, resulting in a swathe of positive publicity for the innovative gift company.
“The commitment and hard work of our team has helped us to grow to become an international firm, holding long standing relationships with some of the best known brands,” Graeme Carr, founder and managing director told Brighton’s Argus. “Over the years, we have significantly invested in the quality and design of our products which is why we’re now in a market leading position. For us, the time is right to bring an investment partner on board, and in LDC we have found a team who understands our long term ambitions and can provide us with the strategic expertise to help take the business to the next level.”
LDC’s investment is to fund the company’s global expansion, with Paladone looking to continue its growth in America, following demand coming from multiple retailers that include Kohl’s and Target.
Showcasing its strength in licensed merchandise (the sales of which account for 30% of its revenue) exhibited at last week’s Licensing Expo in Las Vegas.
The company is also seeing growth in Europe, Asia and Australia. In its last financial year, Paladone has a turnover of over £30m, with 60% of the sales from its 800 products coming from overseas.
Attracting a lot of attention on the product front was the news that Paladone is pioneering BDP (naturally decomposing plastic), a first for the global gift trade by launching a range of products that uses Breakdown Plastic technology which enhances the biodegradation of plastics in landfill, allowing microbes to consume the plastics in a matter of a few years, instead of centuries or longer. Paladone will debut a collection of themed and licensed egg-cups using BDP this summer with more items using BDPlined up from 2019 onwards.
In addition to its HQ in Shoreham, Sussex, Paladone, also has offices in Los Angeles and Hong Kong.
Top: Paladone has secured a £13m investment.
