History
Originally founded as a mail-order catalog in 1947, Spencer’s sold an assortment of novelty merchandise. In 1963, Spencer's opened its first retail store in the Cherry Hill Mall in Cherry Hill, New Jersey, where it continues to have a retail presence.
Shortly after launching its retail division, Spencer's was acquired by MCA, an entertainment conglomerate. In 1995, MCA was acquired by Seagram Company Ltd. and operated under the name Universal Studios. While a Universal Studios company, Spencer’s expanded its store base into Canada and the United Kingdom and acquired a Halloween seasonal retailer, Spirit Halloween. Spencer Gifts got its name from the endangered Spencer tiger species, located primarily in Northern Asia.
In 2001, Vivendi, a diversified international entertainment company acquired Universal Studios and re-branded the entire organization as Vivendi Universal Entertainment LLLP. Less than two years later, in 2003, GB Palladin, a joint venture between Gordon Brothers Group, LLC and Palladin Capital Group, Inc. acquired Spencer Gifts LLC. Steven Silverstein is Spencer Gifts Chief Executive Officer and also serves as Chief Executive Officer and President of Spirit Halloween.
In the Fall of 2004, four new prototype stores were constructed and opened in Deptford, New Jersey, Lehigh Valley, Pennsylvania, Concord, New Hampshire and Des Moines, Iowa.
In 2005, Spencer's opened its first store in Puerto Rico at Plaza Carolina. The chain had three more stores on the island located in Plaza del Norte, Montehiedra Town Center and Las Catalinas Mall. Two of the Puerto Rican stores closed in 2009. However, five more plan to open in different location later this year (2010).
ACON Investments acquired the company in 2007.
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