Card Factory acquisition strengthens web retail offer
The leading high street retailer for budget greeting cards, Card Factory, has bought the online gift site www.gettingpersonal.co.uk for an undisclosed amount.
The deal strengthens the Wakefield-based company’s growth strategy and gives it a firmer foothold in the online retail market for gifts and cards online.
Manchester-based company, GettingPersonal.co.uk launched five years ago, sells a range of personalised gifts and cards direct to consumers. The firm had billed another profitable year to April 2011 with an increase in sales of 22 per cent on the previous year.
Getting Personal has a staff of 40 people, in contrast to the Card Factory with a staff of over 5200 and more than 500 shops across the country. The acquisition will fuel Card Factory’s growth at breakneck speed, with the company opening on average one store a week for the past six years.
The deal will further intensify competition in the online marketplace for personalised greeting cards, which is currently inhabited by print-on-demand publishers like moonpig.com and funkypigeon.co.uk.
Andy Garbutt, corporate development director at Card Factory said: “We have been thinking about our online strategy for a while.” Mr Garbutt declined to disclose how much Card Factory paid for the company but said: “It was a reasonable sum for a company that has been profitable from day one.” He added that both companies had a strong corporate and cultural match.
John Smith, managing director and founder of GettingPersonal.co.uk, said: "We have transformed the personalised gift market over the last 5 years with our unique gift ideas and have seen tremendous growth within a short space of time. We are delighted to be joining the Card Factory Group and see exciting opportunities to grow both businesses further."
Richard Hayes, chief executive of Card Factory added: "GettingPersonal.co.uk's innovative approach has seen it quickly become a leading light in the online personalised gift market in the UK. We will support John and his management team in establishing the business as the UK's leading personalised online gift retailer."