Following last year's acquisition of the German consumer photo product company Fotokasten, the Elanders Group has made a move to further extend their European customer base. The Swedish congomerate yesterday announced a 10.5 million euro takeover of German based MyPhotobook (“New strategic acquisition by Elanders in e-commerce”):
"The purchase price is approximately MEUR 10.5 on a cash and debt free basis.
Myphotobook started in 2004 and net sales were more than MEUR 16 in 2012. Its headquarters are in Berlin and the company has around 70 employees.
The seller is Holtzbrinck Digital, the investment holding company for online businesses of the publishing group Georg von Holtzbrinck and one of the leading internet investors in Germany."
A noteworthy read on the same topic is the recent write up on Photobox in the British press (“Merchant of Joy Stan Laurent plays his cards right with Photobox”).
MyPhotobook and Fotokasten will be represented at the German K5 Conference being held in Munich on September 12-13.
Related companies such as CEWE Color, PosterXXL, Lumas/Whitewall, and Personello will also be represented.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.