Irish hampers deal for Park Group
PARK Group, the North West voucher and prepaid gift card provider has launched its Love2shop voucher in the Eurozone after buying an Irish business.
The Birkenhead-basd company has bought the brand names and customer and agent databases of Dublin based Celtic Hampers and Family Hamper in a deal worth up to €1m.
The Irish businesses do not currently offer voucher and Park says the deal provides it with an ‘excellent platform’ to broaden its Christmas Savings range by launching in the Republic.
Together Celtic Hampers and Family Hamper have 4,000 agents with 25,000 customers and have secured orders totalling €10m for Christmas 2010.
Chris Houghton, managing director of Park Group, said: “This is an exciting development for Park as it is our first international acquisition.
“It not only allows us to expand our product offering into a new territory but will also see the creation of a Euro based Love2shop voucher, which we believe has sales potential throughout Europe.”
The acquired businesses will be rebranded and benefit directly from Park’s advertising and TV campaigns, which are widely viewed in the Republic.
Customers will be supplied by their existing provider for this Christmas 2010, and Park will supply customers from 2011 onwards.