25/07/11
By Karen Moss
Online greeting card retailer Moonpig.com has been sold to online digital photo service PhotoBox for £120 million.
Nick Jenkins, founder and chairman of Moonpig, is set for a multi-million pound windfall after agreeing to sell the business, including a portion of his 35 per cent stake, to PhotoBox.
Jenkins intends to reinvest in the new business and will continue as an adviser to the merged company’s board of directors. The deal enables Moonpig to enter foreign markets and offer a wider range of products.
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