Meridian Capital LLC (“Meridian”) is pleased to announce the successful sale of its client, Old World Christmas, to Gladstone Investment Corporation (“Gladstone”). In connection with the transaction, Meridian served as exclusive M&A advisor to the shareholders of Old World Christmas.
Old World Christmas, founded in 1979 by Tim and Beth Merck, and headquartered in Spokane, WA, is a designer and distributor of an extensive collection of blown glass Christmas ornaments, table top figurines, vintage-style light covers and nostalgic greeting cards into the independent gift channel. Tim and Beth are credited with revitalizing the European-style art of blown glass ornaments as a result of reintroducing hundreds of unique figural designs over the past 30 years.
Gladstone is partnering with new CEO and industry executive Doug Lauer on the transaction. “We are excited about the opportunity to work with Doug and the rest of this experienced management team. Old World Christmas has an outstanding reputation and thousands of loyal customers in the independent gift channel, and we look forward to supporting the team as they continue to build on that foundation,” said Kyle Largent, managing director of Gladstone. “I would also like to acknowledge the Meridian team for their excellence in managing an efficient process.”
Tim Merck, co-founder of Old World Christmas also commented, “We are delighted to work with Kyle, Doug, and the Gladstone team as they continue the tradition of sharing our love of Christmas and the magic of Old World Christmas with customers around the world. We thank the Meridian team for their exceptional management of the entire transaction and introducing such a strong buyer in Gladstone. Their knowledge of the consumer products industry proved invaluable throughout the process.”
Old World Christmas was also represented by Scott Simpson of the law firm Paine Hamblen LLP and Keith Schmidt of the accounting firm Eide Bailly LLP, both based in Spokane, WA.