Flower power: Photobox Group claims top position in Europe due to acquisition

Moonpig owner Photobox Group has bought Dutch online cards and gift retailer Greetz, in a move that it says positions the firm as the industry leader in Europe. The group, owned by Exponent Private Equity and Electra Private Equity, did not disclose the cost of its acquisition or the terms of the deal. Greetz has maintained a year-on year growth rate of 25 per cent and last year sold 7.5 million cards in the Netherlands. Photobox Group chief executive Jody Ford said: “The UK and Netherlands are the two main greetings card markets in Europe and we now have leadership positions in both.”