MorphCostumes, the manufacturer and online fancy dress retailer behind the legendary Morphsuit, has hit the acquisition trail, taking the first step in a plan that will continue the company’s strong growth from a base of over £12m in 2018 (up from £9m in 2017).
MorphCostumes plans to export Fun Shack’s costumes – which are currently primarily available in the UK – through its existing international distribution channels, targeting countries including Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the United States.
“Fun Shack has been on our radar for the past couple of years thanks to its range of good-quality costumes,” said Fraser Smeaton, chief executive at MorphCostumes. “We believe its ranges of historical, storybook and many other classic costume designs will appeal to an overseas audience just as much as they have done to customers here in the UK.”
He continued; “We already have the sales channels in place to take this business to the next level and we’re looking forward to integrating its products into our range.”
Brothers Fraser and Ali Smeaton founded AFG Media, MorphCostumes’ parent company, in 2009 with Gregor Lawson after a night out that inspired the invention of the world’s first Morphsuit, a head-to-toe spandex fancy dress outfit that has grown into an international phenomenon. Some of its most popular costumes include licensed characters such as Deadpool, Spider-Man, Power Rangers and WWE.
The Edinburgh-headquartered company has bought Fun Shack, which creates and sells a range of costumes through Amazon and other online retailers, in addition to a network of 200 shops.
Fun Shack was founded 2008 by Jeffrey Fearnley and Harvey Felstone and in that time has grown its annual revenues to £3m and its headcount to 12 staff.
BGF, the UK’s most active investor in growing companies, bought a minority stake in AFG Media for £4.2m in 2012 to accelerate the company’s expansion.
