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Spencer Gifts Holdings, Inc. said today it has been bought by a management-led group.Spencer Gifts Holdings, Inc. said today it has been bought by a management-led group. The Egg Harbor Township-based company will continue to be operated by its current management team, which was backed by an affiliate of private equity firm ACON Investments. Terms of the transaction were not disclosed.

ACON Investments is purchasing Spencer Gifts Holdings, Inc. from affiliates of GB Merchant Partners, the private equity arm of Gordon Brothers Group, which will retain a minority stake in the business.

Spencer Gifts operates more than 1,100 retail outlets under the Spencer’s and Spirit Halloween brands in the United States, Canada and Puerto Rico. Spencer targets “Generation Y” consumers and specializes in accessories, décor items, gifts and other products.

Spirit Halloween carries a selection of Halloween-related products including costumes, wigs, masks, accessories and seasonal décor in stores that are typically open for just two months each fall.