Financials -M&A - Photobox Group - 28 Jul 2015

Photobox Group acquires leading German online photo business posterXXL

Acquisition bolstered by strong performance and more than 20% revenue growth during last fiscal year 2014/15

  • Acquisition of posterXXL boosts the Group’s market share to 10% in Germany, Europe’s biggest online photo market

London/Munich – 28 July 2015 – Photobox Group, Europe’s leading digital consumer service for personalised products and gifts and parent of the Photobox, Moonpig, PaperShaker, Sticky9, Hofmann and Posterjack brands today announces the acquisition of posterXXL, a leading service in Germany’s online photo print market.

The landmark announcement follows the acquisition of Spanish market leader, Hofmann in December 2014, and marks another major milestone in the Group’s strategy to lead the European personalisation space. The acquisition of posterXXL will significantly boost Photobox’s presence in Germany, taking a 10% share of the estimated £341 million German online photo market1 and strengthening its number 1 position in the European B2C market.

The acquisition will be financed by an extended debt facility provided by Barclays Bank PLC, The Royal Bank of Scotland plc and Santander.

Commenting on the transaction, Photobox Group President and Chief Executive Officer, Stan Laurent, said:
“The acquisition of posterXXL is ground-breaking for Photobox, delivering yet more scale to the Group and a prime position in Germany, by far the largest photo market in Europe. We’re excited to add a new leading brand and a highly entrepreneurial team to our family of personalisation services. This is XXL in all respects!

Commenting on the transaction, posterXXL Founder & CEO, Christian Schnagl, said:
“This is a combination of two of the most successful and innovative businesses in the photo printing space in Europe. The team and I are excited to be joining Photobox to continue expanding posterXXL and to participate in the creation of the largest B2C personalisation business in Europe.”  

1Source: Futuresource forecasted data for 2015 Online Consumer Photo Market in Germany