NEUILLY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:
M6 Group (Paris:MMT) has entered into exclusive negotiations with Dutch group albelli regarding the full transfer of monAlbumPhoto, a leading e-commerce player in France in the printing and processing of photo albums and personalised photo products. More than 1.3 million photo products were designed and shipped in 2017 from its production facility in the Oise district, north of Paris, generating sales in excess of €30 million.
Completion of the transaction remains subject to finalisation of the negotiations and to consultation of employee representative bodies.
M6 Group acquired monAlbumPhoto in 2010 and used its sales and marketing
capabilities to accelerate its growth. Company sales have therefore
increased 10-fold since its acquisition.
After eight years within the Group, and against the backdrop of European-wide consolidation in the online photo album market, M6 Group considers that entrusting monAlbumPhoto to albelli, a major European player in the industry, would be the best option to strengthen its positions and accelerate its development.
With this disposal, M6 is continuing the turnover of its diversification portfolio whose development is notably based on the advertising power of the Group’s TV channels.
albelli is a leading Dutch player in the printing and processing of online photo albums and personalised photo products, with a strong presence through several brands across Europe, notably in Benelux and Scandinavia.
albelli will find the support of monAlbumPhoto, its hundred employees and its industrial site of Nanteuil-le-Haudouin in the Oise district, invaluable in its development in France.