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Two European players in online photo products announce their merger: Albelli, belonging to the investment fund Gilde Buy Out Partners, and Photobox of the fund Exponent. Together, they create the leading online photo and gift products company in Europe.
Based in London, England, Photobox, with 700 employees and three brands - Photobox, Hofmann and PosterXXL, is vertically integrated, but also works with external factories.
Based in Amsterdam, the Netherlands, Albelli, with 450 employees, produces and supplies photo books and other photo printing products such as wall decorations, cards, calendars and prints. Albelli has several local brands such as Albelli in the Netherlands, Bonusprint in England and Monalbumphoto in France. The company is based on a vertically integrated business model, including e-commerce and printing. It has also developed a photo creation software.
The combined company, which employs 1,150 people in the UK, the Netherlands, France, Germany, Spain, Norway and Sweden, will serve a pan-European customer base of more than 7 million.
Gilde Buy Out Partners and Exponent will retain ownership of the combined company along with the management teams of both companies.
It will benefit from sharing best practice knowledge and streamlining processes and supply chain, the parent companies say. The merger will also allow both companies to accelerate their strategic initiatives, including the development of mobile applications for customers.
"The existing consumer brands, including Photobox and Albelli, will remain, given their strength in their respective markets. Over time, customers will benefit from an expanded product portfolio."
"We believe this is a unique opportunity for two great companies that have a lot in common to join forces and accelerate our customer-focused strategies." adds Tristan Money, CEO of the combined group.
