Family-owned Concern Finds a ‘Natural Buyer’

A family business specialising in youngsters’ wet weather gear has been sold to a Worcestershire toy company.

Muddy Puddles, based in Kingsbridge, Devon, established by mother-of-three Susie Cullen in 1984, has been sold for an undisclosed sum to TP Toys based in Stourport-on-Severn. Muddy Puddles grew from a kitchen table enterprise into a multi-million pound mail order all-weather clothing business employing seven people.

Mrs Cullen and her husband John said that they had sold the company in order to concentrate on running their farm. Mrs Cullen said: “We have recognised for some time now that our business has become too big and recently decided to target a buyer in order to take it to the next level.”

Berkshire-based BCMS Corporate identified TP Toys as a suitable buyer for the business. Mrs. Cullen said: “Selling a business is never easy but we have every confidence that in TP Toys, we have found a natural fit.”

TP Toys managing director Chris Martyn-Smith said: “Our company’s aim has always been to encourage outdoor and active play for children. The addition of Muddy Puddles will help us to continue to do just that.”

John Humphrey, deal leader at BCMS Corporate, said: “We are delighted to have sold Muddy Puddles, particularly to TP Toys with whom they share so many synergies and who we believe are absolutely the right company to take the business forward.”

It is thought that Muddy Puddles will continue to operate from Kingsbridge for the time being, but TP Toys has yet to reveal its long-term plans for the business.

Source: Western Morning News