Photobox Group acquires Greetz
Moonpig owner Photobox Group has acquired Dutch online greeting card and gifting retailer Greetz.
Founded in 2001, Greetz sold over 7.5 million cards in the Netherlands in 2017. It also offers a gifting service for items such as flowers, chocolates, beverages and balloons.
In addition to Moonpig, Photobox’s other brands include photo-personalised gift retailers Hofmann and PosterXXL.
Commenting on the acquisition, Photobox Group chief executive Jody Ford said: “We’re delighted to welcome Greetz to our family of gifting and personalisation businesses.
“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.”
Owned by Exponent Private Equity and Electra Private Equity, Photobox’s group revenue reached £325 million in the year to 30 April 2017. In May this year the group moved to a new head office in London and appointed Nickyl Raithatha as managing director of Moonpig a month later.
