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Moonpig Group PLC - London-based online greeting card and gifting company - Completes £124 million cash acquisition of entire issued share capital of Smartbox Group UK Ltd. Smartbox operates under Buyagift and Red Letter Days brands, providing experiential and physical gifts.
‘Buyagift is profitable and highly cash generative, with a proven track record of strong growth and we are excited by the ways that we can further transform the business using the group's proven strategy. The gift experience market is a fast-growing segment and we see significant potential for cross-selling on Moonpig.com, delivering an enhanced proposition for our customers and creating value for our shareholders,’ says Chief Executive Officer Nickyl Raithatha.
Current stock price: 194.10, down 2.8% on Wednesday
12-month change: down 52%
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