Moonpig owner Photobox Group acquires Dutch online gift and card retailer Greetz.
Greetz is currently Holland’s market-leading online retailer of greeting cards, selling more than 7.5m cards in 2017 as well as nearly a million gifts. The brand is on course to double its 2015 revenues in 2018, and is growing at a rate of 25% year on year.
The acquisition makes Photobox Group the European market leader in online greeting cards and personal gifting through the Greetz and Moonpig brands.
The synergy between the Greetz brand and UK card and gift specialist online retailer Moonpig is undeniable. Jody Ford, CEO of Moonpig owner the Photobox Group, comments: “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 greeting card markets in Europe and we now have leadership positions in both.”
Greetz CEO Niek Veendrick adds: “Joining Photobox Group gives us access to a Europe-wide pool of talent, expertise and creativity as we build the next stage of the Greetz story.
“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 generated revenues of £325m in the year ending 30 April 2017 and the Moonpig brand has just started trialling non-personalised greeting cards on its website, expanding considerably its portfolio of cards by other publishers.
Ford continues: “We’re delighted to welcome Greetz to our family of gifting and personalisation businesses.”