GB eye has officially joined Abysse Corp Group, which confirmed the multi-million pound deal with Licensing Source.
“After 35 years in the business, we are delighted to announce the sale of the company to Abysse Corp,” the GB eye board of directors told the publication. “We are leaving GB eye in good hands. This was incredibly important to us. Abysse Corp is the perfect fit and has a like-minded business strategy with the ability to identify forthcoming trends and create high-quality products for any pop-culture fans. Abysse Corp plans a smooth continuation of the business by adding the highly regarded GB eye brand to its existing global distribution network. The combined group's growth potential is very exciting, and we strongly believe that this is great news for all the GB eye staff as the business continues to go from strength to strength. We would also like to take this opportunity to thank licensors, customers, suppliers, and of course, our many loyal staff members who have worked tirelessly over the years to make GB eye the successful business it is today. We wish you all every success in the future.”
GB eye has been a U.K. market leader for the category since 1986, with more than 100 licenses, agreements with key U.K. retailers and long-standing trade relationships. Abysse Corp is known for its unique products, distribution and market knowledge.
The deal is the first step in the two hoping to create even more popular fan-based merchandise. The acquisition of GB eye will give Abysse Corp further distribution in the U.K., and the GB eye range will have access to a new level of distribution worldwide, providing substantial warehousing and manufacturing capabilities both in the U.K. and multiple locations in mainland Europe.
With the deal, the group will employ close to 300 staff and expects a consolidated turnover of an estimated €60 million for 2021.
“The integration of GB eye is a fantastic opportunity to onboard a well-trained and very professional team,” Xavier Sartoris, president, Abysse Corp, told Licensing Source. “The two companies are complementary and it is a great step to add GB eye’s production facility to ours in France. Local production and a strong domestic distribution is certainly the reason why both companies show such an amazing resilience in the COVID time.”