Williams Gunter Hardwick advises Tobar Group in multi-million pound expansion

Bristol based surveyors, Williams Gunter Hardwick, have been reappointed by The Tobar Group Ltd (Tobar) to grow the chain to in excess of 100 outlets as part of the multi-million-pound expansion of its novelty gift and gadget chain, Hawkin’s Bazaar, over the next five years.

Hawkin’s will trade from 30 permanent outlets by the year end and some 15 temporary stores nationwide, including shops at The Mall Galleries in Broadmead and at The Mall Cribb’s Causeway. They plan to open 15-20 more permanent outlets during 2007 in addition to the annual temporary stores.

The retailer’s fast-track expansion is being financed by Primary Capital, the private equity firm behind the restaurant chain, Yo Sushi. Primary Capital bought a 50 per cent stake in the Tobar Group in a deal worth £42 million.

UK High Street property adviser and director of Williams Gunter Hardwick, Stuart Williams, said: “Having acted for Hawkin’s over the last four years, we are delighted to be reappointed and help them build a significant High Street presence over the next five years.

“We have doubled the Hawkin’s Bazaar chain from 15 to 30 permanent stores in the last 12 months. This is in addition to the 15 temporary outlets which the company will trade from throughout the Christmas period,” he said.
As well as financing its shop roll-out programme, Tobar will be using the investment to expand the wholesale, mail-order and internet sides of the business.
Toby Templer, managing director of Tobar, said: “Our aim is to transform Tobar from a wholesale and mail-order-led business into a multi-channel retailer with a significant High Street presence.

“The recent investment allows us to fast-track this expansion financially, but also means we will benefit from Primary’s experience.  Over the years they have developed many successful retail chains and their input has been invaluable throughout the strategic planning stages of our expansion,” said Toby.  

Founded in 1973, the Norfolk-based company started out as a mail-order business importing a few specialist toys.  Today, the group boasts a consolidated turnover of £22.5 million (in the year end to June 2006), a wholesale arm supplying more than 7,000 retailers in the UK and Europe, a mail-order business with a database of 350,000 customers, and a very successful internet business (www.hawkin.com).

Tobar, which employs 250 full-time staff, plus an extra 500 in the run-up to Christmas, are in the process of building a new £10 million headquarters and distribution centre at Worlingham, scheduled for completion by Spring 2007.

From their very modest beginnings, The Tobar group now sources and stocks over 1500 different products, ranging from unusual toys, gifts, electrical gadgets and gizmos, to toys that have been around for generations.

“The Company tag line – ‘Things you’d thought had gone forever, and things you never even knew existed’ – sums us up perfectly,” explains Toby.  “There are pocket money toys, stocking fillers, curiosities, traditional toys, puzzles, games – the list goes on.

“We are reinventing the past, but we are looking to the future too. Our lines also include new and innovative toys as well.  Everything we stock, whether traditional or modern, has a sense of fun and nearly all of them are unique and would not be found in any other High Street chain,” said Toby.

“I think one of our biggest strengths as a toy retailer is that our products appeal to both children and adults.  A lot of reminiscing happens in our stores, as people remember the toys from their childhoods, from polystyrene planes, to spinning tops,” he adds.

Hawkin’s Bazaar is currently looking for suitable retail units in major towns and cities between 1000-1,750 sq ft. For more information contact Stuart Williams on: 0117 922 1222, or e-mail: stuart@wghproperty.co.uk.

ENDS: November 30, 2006

Issued on behalf of Williams Gunter Hardwick by Venture Public Relations.  For more information, contact Corrina Cockayne on 01179 596411, or 07765 404616.

Editor’s notes:

About Primary

Primary Capital is an independent private equity firm, founded in 1995, which invests in middle-market management buy-outs, buy-ins and development capital opportunities in the UK and/or continental Europe.  Primary works closely with management to develop their business by providing long-term financial resources and strategic support over a three to seven year period. 

Tobar is the second investment in the third fund, Primary III, which closed in March 2006 at its hard cap of £200 million. Further information on Primary and its investments can be found on the Primary website at www.primaryeurope.com. 

Primary Capital Limited is regulated by the FSA.  The material in this press release is for information purposes only and has been issued by Primary Capital Limited.

About Tobar Group Ltd

Tobar was founded in 1973 by Sid Templer, the father of the current Managing Director, Toby Templer. Tobar is based in Norfolk and aims to sell “something for everyone” through its four divisions:

1. A Wholesale Business (est. 1973), trading under the name of Tobar, supplying over 7000 active businesses throughout the UK and a rapidly growing number in Europe.
2. A Mail-Order Business (est. 1982), trading under the name of Hawkin’s Bazaar, supplying directly to a database of 350,000 people from a catalogue mailed out twice a year.
3. An Internet Business (est. 1997) – www.hawkin.com trading under the Hawkin’s Bazaar brand and promoted via the mail-order catalogue and retail outlets.
4. A High-Street Retail Business (est. 1997), trading under the Hawkin’s Bazaar brand. Currently consisting of 30 permanent stores and planning to reach 100 over the next five years.