Party and prom supplier Stumps said yesterday that it has acquired gift catalog and Internet retailer Celebration Fantastic. Terms of the transaction were not disclosed.
Celebration Fantastic sells gifts, collectibles, apparel and décor items for holidays and other celebrations. The company, founded in 1990 by Kathleen Mahoney and Ozzie Ayscue, has annual revenue of more than $10 million. Stumps said it expects to move Celebration Fantastic's operations from San Francisco and Portland, TN, to its headquarters in South Whitley, IN. The company also anticipates hiring up to 40 more people in the coming year.
This is Stumps' third acquisition in the past four years. In 1998, it bought Glass Branders, a glass decorating company, and in 2000, it acquired SpiritLine Inc., a fundraising and spirit catalog company.