Card Factory has bought the personalised greeting cards business Funky Pigeon from WH Smith for £24m.
WH Smith is selling the business after a strategic review that followed the sale of its high street business to Modella Capital. It said the deal was consistent with its new focus on travel retail.
For Card Factory, the acquisition will accelerate its digital strategy by providing a platform for online growth.
The company expects Funky Pigeon to become the core digital offering for its UK and Ireland business.
It values Funky Pigeon at £26m, with the deal expected to complete before the end of the year, subject to regulatory approval.
Card Factory CEO Darcy Willson-Rymer said: “This acquisition marks a significant step forward in Card Factory’s strategy to build a scaled, competitive digital presence in the celebration occasions market.
“It brings a high-quality platform and proven technology, accelerating our ability to compete in the direct-to-recipient card and gifting segment, so supporting our ambition to become the leading omnichannel retailer in our sector.”
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