Corporate -M&A - Make Do - 01 Dec 2014

PhotoBox completes acquisition of Hofmann, Spanish leading provider of photobooks

London/Valencia – December 1st, 2014 – PhotoBox Group (the “Group”), a leading digital consumer service for personalised products and gifts in Europe and parent of the PhotoBox, Moonpig, PaperShaker and Sticky9 brands, is pleased to announce that is has completed the acquisition of Hofmann, Spain’s leading online photobook company following the receipt of regulatory approval from the Spanish competition authority, CNMC.

The acquisition follows the Group securing a revolving credit facility to finance M&A deals in June 2014, and marks another key milestone in our strategy to accelerate consolidation and expand in the European market.

Commenting on the deal, PhotoBox Group Chief Executive Officer, Stan Laurent, said:

The acquisition of Hofmann gives us clear leadership in a third European market and a stronger presence in Germany, Switzerland, Austria and Portugal. We gain bigger volumes to continue our ongoing investment in mobile, new products and better service. I am very pleased to add a brand to the PhotoBox family of the strength and scope of Hofmann and look forward to taking advantage of the increased scale this gives to us in the European market for personalised products.”

For further information please contact:

FTI Consulting, LLP                                                        +44 (0) 20 3727 1000
Matt Dixon / Ollie Pratt / Harry Staight

PhotoBox Group                                                            +44 (0) 20 7087 4621
Stan Laurent, CEO
Cecilia Vincent, Head of Communications

About PhotoBox Group
The PhotoBox Group is a leading digital consumer service for personalised products and gifts in Europe and parent of the flagship branded retail channels PhotoBox, Moonpig, PaperShaker and Sticky9. From photobooks and unique artwork to the very latest personalised apparel, gifts and greeting cards, the Group’s products enable customers across 22 countries to share memories, celebrate great moments and inject personal expression into their everyday lives. The Group has 750 employees across Europe, generated turnover of £175.3m in the fiscal year ending April 2014 and is backed by leading international private equity firms including Insight Venture Partners, Index Ventures, Highland Capital Partners, HarbourVest Partners, Quilvest Ventures and Greenspring Associates.