Enesco, a corporation best know as the distributor of Precious Moments gift products, announced today that they have acquired Gund. This kind of news always makes me sad. Gund is a 110 year old American Company, a staple in the toy industry. Let's hope their quality product doesn't get ruined as a result of the acquisition, but I am betting that it will. Hold on to your original Gund's, they are part of that lost era of small family owned American toy companies that were able to thrive in the mass-market. Read more about it here-www.kidstodayonline.com
Enesco has an interesting history. Enesco was founded in 1958 and went bankrupt in 2007 after they ending their deal with Precious Moments in 2005, due to which their sales and stocks plummeted. Tinicum Captiol Partners II L.P. acquired them and now they are back in business.
It is yet another tale of a small fish getting eaten by a big fish getting eaten by an even bigger fish. delish!