Findel has acquired Letterbox Mail Order, the Cornwall-based mail order and online retailer of children's gifts and toys, for £7m in cash. Findel is a home shopping and educational supplies group based in Yorkshire and is hoping the acquisition will enhance and complement its current home shopping divison. In March of this year, Findel's home shopping division recorded operating profits that were down 21% on the previous set of accounts. Letterbox will continue to operate from its Cornwall headquarters.