Festive CEO Ian Newton said: "We are delighted to announce we have purchased Widmanns which also includes the purchase of their tinsel manufacturing operation, making Festive the only company making Tinsel in Britain. The Widmanns brand is steeped in heritage and we are excited about the potential the brand has, as well as the operating benefits we can create from the purchase.
There are no plans to change anything at Widmanns this year. Deliveries are on schedule from the supply base and there will be "zero knock-on effect" to Widmanns or Festive customers this year, the company said.
They recommended that customers with queries should call customer services at Widmanns on 0208 367 4344 or Festive on 01633 627300.
South Wales-based Festive had "significant investment" in late 2010 from owners Hedlund International and installed a new management team.
Its new mobile showroom 'UK roadshow' tour began this year.
Newton added: "A full review of the brand and organisation will take place over the next two or three months, in consultation with the customers, that will ensure any forward plans for 2013 help us maximise the opportunities for both the Festive and Widmanns businesses."