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Albelli, the leading photo book consumer brand of Netherlands-based Albumprinter, has signed an agreement to acquire Önskefoto, one of Scandinavia’s leading consumer photo brands. The acquisition includes the acquisition of all the assets and liabilities of Önskefoto AB, with Albelli taking control of Önskefoto’s operations with immediate effect.
Albelli – part of Albumprinter, one of Europe’s leading photo book specialists with sales of around EUR 40 million across seven countries – has acquired Önskefoto as part of its continuing expansion in the online photo product market.
It follows Albelli’s recent acquisitions of Fotobook and Bonusprint in the UK. “The photo industry is in need of consolidation. We consider Albumprinter a worthy purchaser capable of taking the strong Önskefoto brand one step further,” says Monika Dagberg, President of Online Brands Nordic AB (publ), from which Albelli is acquiring Önskefoto. “The future of the photo industry lies in various types of pictorial products sold online. One of the major products for the future is photo books.
“Ensuring a leadership role in this segment will require significant investments in product development, particularly in software. Önskefoto itself does not possess such resources. We believe that Önskefoto’s customer database, brand and
product range will enable Albelli to make an extremely strong entry into the Swedish and Norwegian market.”
Albumprinter CEO Kees Arends adds: “We are always on the lookout for great opportunities to expand our business. The acquisition of Önskefoto provides us with a very attractive platform for growth in the Nordic countries. Önskefoto is since its foundation in 1975 a well-recognised, respected and loved consumer brand in Sweden and Norway. We are confident that its valued customers will enjoy the greater range of products and our enhanced photo product creation software that will soon be available. ”
Endeit refers to the following statement in connection with the sustainable finance disclosure regulation (SFDR), available here.
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