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Nici’s Magic Forest gift collection | |
GERMANY. A fund belonging to the Strategic Value Partners Group has taken over the activities of gift manufacturer Nici for an undisclosed sum, following six months of insolvency and an intense bidding procedure.
Nici, founded in 1986 and based in Altenkunstadt in the Franconia region of Germany, was being managed by insolvency administrator Michael Jaffé.
“In the past months Nici has made considerable progress towards becoming a healthy business. I am convinced that Strategic Value Partners, as a new investor, offers the business the solid foundation needed to follow this route further,” said Jaffé.
“Following a successful restructuring programme Nici has regained a profile which offers good prospects for healthy growth.”
Nici has around 400 employees and is represented worldwide with distribution partners in more than 50 countries. The firm operates 30 shops in Germany and six in Asia.
The Strategic Value Partners Group has its headquarters in Connecticut, US, and has affiliated companies in Tokyo, London and Frankfurt. It currently manages fund investments of about US$4 billion worldwide.
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