GIFTCRAFT, LTD., a Toronto-based company, is the leading provider of Fashion and Lifestyle products. With more than 85 years of experience, and 11 consecutive years of being recognized as one of Canada's Best Managed Companies, Giftcraft has become a trusted go-to product partner for more than 10,000 specialty retailers and department stores throughout North America.
"This integration helps fuel the digital acceleration for Giftcraft, strengthening our footprint in the direct-to-consumer market while delivering brand value for the company," said Todd Vore, Giftcraft Chief Executive Officer. "Leveraging our sourcing, distribution and support teams with RipSkirt's strength in digital marketing positions Giftcraft for exponential growth in the digital segment."
RIPSKIRT HAWAII, INC. designs and develops casual beachwear-inspired apparel and accessories. The Company markets their popular vacation fashion line products direct-to-consumer via its website, ripskirthawaii.com.
RipSkirt Hawaii has been one of the fastest growing DTC women’s casual apparel companies in North America and Australia. Despite COVID constraints, RipSkirt has experienced explosive growth since its founding. Alecia and Cole Elsasser will continue managing the company as they continue to expand their international footprint with assistance from Giftcraft.
"We are excited for the expected acceleration of RipSkirt Hawaii's business with the backing and support of an award-winning organization like Giftcraft," commented Alecia Elsasser, Founder of RipSkirt Hawaii. "Our team is looking forward to building new relationships with the Giftcraft team and strengthening our operational capabilities in key facets of the business."
ACQUISITIONS NORTHWEST, INC. was engaged by the Elsasser family to explore potential candidates that would be excellent partners to manage the company going forward. This is the second nationally branded company owned by the Elsasser family that Acquisitions Northwest, Inc. has achieved the client’s exit strategy.
After nearly 30 years in the Northwest gourmet food manufacturing industry, Seattle Gourmet Foods has been acquired by Promise-Holdings, a Chicago based investor group alongside one of their portfolio confectionery companies, Annabelle Candy.
SEATTLE GOURMET FOODS operates from two facilities in Kent, Washington producing a broad range of branded consumer food products. The majority of SGF’s production is private-label manufacturing of confectionery items for various national brands. The company is most known for owning the Dilettante Chocolate brand which will continue to be locally manufactured.
PROMISE-HOLDINGS adds the food manufacturer to its list of specialty food brands, like Big Hunk, Abba-Zaba, and the recently acquired Annabelle Candy. Promise-Holdings brings a wealth of expertise, as well as a strong distribution network, as well as digital and brick-and-mortar sales and marketing experience to the acquisition.
ACQUISITIONS NORTHWEST, INC. was engaged by the shareholders of Seattle Gourmet Foods to explore potential acquirers that would focus on expanding and growing the present operations of SGF.