23rd May 2022 08:44
Moonpig Group PLC - London-based online greeting card and gifting company - Agrees to buy Smartbox Group UK Ltd, which trades as Buyagift, for GBP124 million in cash. Smartbox recorded GBP14 million in earnings before interest, tax, depreciation and amortisation in financial year 2022. Buyagift is a gift experiences platform. Moonpig said it hopes to create the UK's leading range of physical and experiential gifts, delivering a step-change in the company's gifting proposition. Moonpig Chief Executive Officer Nickyl Raithatha says: "The proposed acquisition of Buyagift rapidly accelerates Moonpig group's journey to become the ultimate gifting companion. There is strong strategic rationale for the transaction, and compelling financial benefits."
Moonpig current stock price: 265.85 pence, up 13% on Monday in London
12-month change: down 43%
By Xindi Wei; [email protected]
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