Corporate -M&A - Photobox Group - 01 Dec 2014

Photobox completes acquisition of Hofmann, Spanish leading provider of photo books

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.”