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Elanders AB Acquires Myphotobook GmbH


Wednesday, 14 Aug 2013 02:00am EDT 

Elanders AB announced that the Company has acquired Myphotobook GmbH, a European e-commerce company specializing in personalized photo products for consumers. This deal is right in line with Elanders' strategy to develop product area e-Commerce. The purchase price is approximately EUR 10.5 million on a cash and debt free basis. Myphotobook will be consolidated in the Elanders Group starting from October 1, 2013 and is expected to make a positive contribution to Elanders' result already in 2013. The acquisition is dependent on obtaining the required approvals from the German Competition Authority. 

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