Moonpig owner in business sale rumours

Mon, 29 Jun 2015 | BUSINESS SALE

A number of private equity firms are thought to be circling Moonpig's owner, Photobox, in a bid to make an acquisition of the greeting card firm.

The Sunday Telegraph reported that Goldman Sachs advisors have been hired on the quiet by online photo specialists Photobox to run an auction process for Moonpig following enquiries from firms including TPG and KKR.

While there had been plans on the table that would have seen the company floated on the stock market, it is thought that the firm is being eyed up by a number of suitors and an acquisition could prove suitably profitable for the firm to tempt it away from previous flotation plans.

City sources estimate that a sale of the Moonpig business could fetch between £400 million and £450 million. Photobox as a group has reported sales of £175.3 million for 2014.

While the company is doing well now, Moonpig's founder Nick Jenkins, who has recently joined the cast of Dragon's Den, noted that it didn't always perform as well as it is currently doing.

He told the Salisbury Business Club that what really made the different for the firm was the TV advertising: “It was TV that made the difference… We went from a £3 million turnover [company] to a £45 million turnover in a very short time.”


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