NEW YORK -- Management of Spencer Gifts Holdings Inc. has led a buyout of the closely held retailer of gag gifts and accessories, backed by an affiliate of private-equity firm ACON Investments ...

In 2003, Spencer’s began operating under new management, according to a news release, and while the name changed from Spencer Gifts, the company continues to sell buzzworthy merchandise.

Spencer Gifts owns the Spirit Halloween stores, and operates more than 1,500 locations nationwide. Don’t expect an explosion of Spirit Christmas stores yet– the brand will only have 10 ...