Swedish printing group acquires German Myphotobook
Elanders has acquired Myphotobook, a German company that sells personalised photo products for consumers. With the acquisition the Swedish company is now one of the leading players in Europe. Elanders bought Myphotobook for 10.5 million euros from investment holding company Holtzbrinck Digital.
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Myphotobook started in 2004 and saw its net sales exceed 16 million euros in 2012. The German company, which has around 70 employees and is headquartered in Berlin, will be consolidated in the Elanders Group starting from 1 October.
One year ago it bought two other German ecommerce companies, Fotokasten and Deutsche Online Medien, as it explained in an official press release. “While the graphic industry is going through an intense restructuring and affected by a cautious business cycle, Elanders in on the offensive with yet another acquisition in e-commerce as well as personalized products.” In 2012 Elanders also acquired the American company Midland Information Resources, a provider in e.g. digital printing, while it acquired the Scottish company McNaughtan’s, a packaging and labelling expert, in February 2013.
One of the largest players in Germany
“The European market for photo books is currently very fragmented and the market needs to be consolidated. With the acquisition of myphotobook Elanders becomes one of the absolutely largest players in Germany and the third or fourth largest in this area in Europe,” states Martin Lux, responsible for e-Commerce at Elanders.