Paypoint acquires Appreciate Group


Paypoint acquires Appreciate Group

Formerly Park Group which operated a savings scheme for Christmas Hampers, Appreciate Group now specialises in savings redeemed with retailer gift cards, along with reward vouchers, is being acquired by Paypoint in a deal valued at £83 million.

With revenues of £123.2m for year ended March 31st 2022, Appreciate Group had acquired MBL Holdco, a gift card technology provider in June this year.

Appreciate Group shareholders have been recommended to vote in favour of the deal which values Appreciate Group shares at 44p.

Paypoint CEO Nick Wiles said: “The Paypoint board believe the proposed acquisition of Appreciate Group provides a compelling opportunity to acquire a highly complementary business with well established offerings in prepayment savings and the corporate and consumer gift card and voucher sector.

“Appreciate Group brings a well-established technology platform, a strong customer base, a network of popular brand partners and significant headroom for growth across the UK consumer and corporate gifting markets which is valued at more than £8bn in the UK.”

 

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