Greeting card giant Moonpig has announced a proposed acquisition of the অভিজ্ঞ 124 million gift experience platform Buyagift.
The acquisition accelerated Moonpig’s strategy to become a leader in the gifting market, and entered their bn 6bn experience segment.
Buyagift is the UK’s leading gift experience platform with the number one and number three brands in the sector, Buyagift and Red Letter Days.
With more than 4,400 partners across various categories, including short stays, theaters and family day-outs, the company offers a wide range of experiences to its 3m customers across the UK.
Last year, it posted revenue of £ 44m, with an EBITDA of £ 14m with a cash conversion rate of over 100 percent.
The transaction will immediately triple Moonpig’s gift range, without any inventory.
In the meantime, Moonpig will apply its data and technological capabilities to BuaGift brands to accelerate growth.
As a result of the acquisition, Moonpig now expects revenue of about £ 350m for its extended year-end results for the expanded Moonpig Group.
Moonpig chief executive Nikil Raithatha commented: “The transaction has strong strategic logic and mandatory financial benefits. Buyagift is profitable and highly cash-generating, with a proven track record of strong growth and we’re excited to further transform the business using the group’s proven playbook. “
“We see significant potential for cross-selling gift experience to Moonpig’s loyal customers. We look forward to working with the Buyagift team to provide an enhanced offer for our customers and to create value for our shareholders. “