Tobar acquires H. Grossman
Owner emeritus Martin Grossman staying on as MD
Tobar International has acquired H. Grossman Ltd. (HGL) for an undisclosed amount.
HGL is Scotland’s largest toy company and will continue to operate in its home of Glasgow, with Martin Grossman staying on as Managing Director.
After 72 years of trading, owners Elinor and Martin Grossman decided to sell the business to Norwich based Tobar International, ensuring continuity for staff and customers.
Martin, who has worked for the company for 47 of its 72-year history, said: “I want the business to continue, allowing my staff to carry on and my customers to also benefit from the continuity. I have no family who want to run the business hence my decision to sell once again. I will say though, that I think this is a great fit for the company and I am really excited about it. This is a truly amazing match and I believe that both companies will prosper.”
David Mordecai, CEO of Tobar International, said: “We are delighted to be acquiring H. Grossman Ltd, and we see a great complementary relationship between the two companies. The key for us in acquiring the company was for Martin to continue to be involved in the business. Customers will see no difference in service levels, product innovation or anything else.
"Product wise too, we think this is a great fit. Grossman’s are renowned for product innovation and for being first to market and this will be an exciting complement to what we do. There is little crossover on customer accounts and most of our lines are very different, selling to different sectors of the market.”