Completion of acquisition

RNS Number : 3941S

Moonpig Group plc

13 July 2022

 

13 July 2022

Moonpig Group plc

Completion of Acquisition

Further to the announcement on 23 May 2022, Moonpig Group plc (the "Group") announces that it has completed the acquisition of the entire issued share capital of Smartbox Group UK Limited ("Buyagift"), the UK's leading gift experiences platform.

Nickyl Raithatha, CEO, commented:

"We are delighted to welcome the Buyagift team to Moonpig Group and accelerate our ambition to become the ultimate gifting companion. The combination of Buyagift's leading gift experiences proposition with our innovative data platform, delivers a significant step-change in our ability to celebrate memorable moments with our loyal customers and unlocks innovation through the power of digital gifting. 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."

Enquiries

Brunswick Group  [phone]

Sarah West / Fiona Micallef-Eynaud   [e-mail]

Moonpig Group   

Nickyl Raithatha, Chief Executive Officer  [e-mail]

Andy MacKinnon, Chief Financial Officer

About Moonpig

Moonpig Group plc (the "Group") is a leading online greeting card and gifting platform, comprising the Moonpig, Buyagift and Red Letter Days brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its markets and is also the UK market leader in gift experiences.

The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.

The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at https://www.moonpig.group/.

Forward Looking Statements

This announcement contains certain forward-looking statements with respect to the financial condition, results or operation and businesses of Moonpig Group plc. Such statements and forecasts by their nature involve risks and uncertainty because they relate to future events and circumstances. There are a number of other factors that may cause actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements.

These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance of programmes, or the delivery of products or services under them; industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. We undertake no obligation to update or revise any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances.

 

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