Moonpig owner Photobox Group acquires Dutch market leader Greetz
Owner of greetings card firm Moonpig, Photobox, today announced it had bought rival Dutch firm Greetz.
The acquisition positions Photobox as the market leader in greetings cards and personal gifting.
Dutch market leader Greetz sold around 7.5m cards last year, and also provides services sending flowers, chocolates and beverages to customers.
It widens Photobox's brands, which also include Moonpig, Spanish photo-personalised gift firm Hofmann and German company PosterXXL.
Photobox is owned by a pair of private equity firms, Exponent and Electra.
"We’re delighted to welcome Greetz to our family of gifting and personalisation businesses” said Jody Ford, Photobox Group chief executive.
"Much like Moonpig in the UK, Greetz is a loved, household brand, offering customers a highly emotive, personal and convenient way to share special moments and occasions together.
"The UK and Netherlands are the two main greetings card markets in Europe and we now have leadership positions in both."
Niek Veendrick, Greetz chief executive, said:
Joining Photobox Group gives us access to a Europe-wide pool of talent, expertise and creativity as we build the next stage of Greetz story.
Our vision is to be the number one destination for personal gifting and greeting, enabling consumers to surprise and support people close to them. This is a perfect match with Photobox Group’s ambition and in Moonpig they have a very similar business that we can grow with.
Photobox's brands together ground out revenues of £325m in the last fiscal year, and last May moved into new headquarters in the centre of London's tech scene.