Photobox Group has acquired The Netherlands-based retailer Greetz, making it the European market leader in online greetings cards and personal gifting through its Moonpig, and now Greetz, brands.
Founded in 2001 as an online greetings cards retailer, Greetz has now established itself as the number one brand in personal gifting in The Netherlands, selling over 7.5 million cards in 2017.
The business also has a strong position in online gifting flowers, chocolate, beverages, and balloons, selling almost one million gifts in 2017.
Growing at 25% year on year, the business is on course to double its 2015 revenues in 2018.
Greetz now joins Photobox Group’s family of brands which include Moonpig - the UK leader in online cards, gifts & flowers - as well as Photobox, Hofmann (Spain), and PosterXXL (Germany).
“We’re delighted to welcome Greetz to our family of gifting and personalisation businesses,” said Jody Ford, CEO Photobox Group.
“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” said Ford.
“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” said Niek Veendrick, CEO Greetz.
“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 Group’s brands and products enable over 10 million customers across 15 countries to share memories, celebrate great moments and inject personal expression into their everyday lives every year.
The Group generated revenues of £325m in the fiscal year ending 30 April 2017 and is owned by Exponent Private Equity and Electra Private Equity.
In May 2018 it moved into new headquarters in the heart of London’s tech scene and appointed Nickyl Raithatha as Managing Director of Moonpig in June 2018.
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