PlanetArt, a subsidiary of the Claranova group, is pleased to announce the acquisition of the assets of Personal Creations, the personalized gifts business of the U.S. group, FTD Companies, Inc.
PlanetArt paid for Personal Creations’ assets $18.1 million in cash, plus certain additional payments, as part of FTD’s court-supervised restructuring.
Personal Creations is a leader in the online retail of personalized products. Its 2018 revenue of US$126.3 million was generated entirely in the United States.
After several profitable years, Personal Creations reported slightly negative EBITDA[1] in 2018. The Group expects Personal Creations to return to positive EBITDA from its first year with PlanetArt, potentially with lower revenue figures.
PlanetArt is the world leader in mobile printing, specifically via its FreePrints solutions. Personal Creations will add new personalized gifts, enabling to offer their customers a new range of products that are a perfect fit with existing PlanetArt offerings, opening up new markets. Marketing, geographic and administrative synergies should also generate significant improvements in the profitability of the purchased entity.
Pierre Cesarini, CEO of the Claranova group, said: “We’re excited to welcome Personal Creations and its teams within PlanetArt. Personal Creation is a strategic addition and highly complementary to existing PlanetArt activities. It will enable us to expand PlanetArt’s growth potential in the coming years. Synergies between the two businesses are evident given our expertise in the mobile sector and our global geographic presence. We will also benefit from Personal Creation’s experience in the “gift” sector and its very rich product catalog”.