Albelli to acquire leading Scandinavian photo consumer brand Önskefoto

Albelli, the online photo consumer brand of Netherlands based Albumprinter, is to acquire Önskefoto. Onskefoto is one of the leading Scandinavian photo consumer brands. The acquisition will be undertaken via sale of the assets and liabilities of Önskefoto AB. Albumprinter will take possession of the operations effective immediately.

Monika Dagberg, President of Online Brands Nordic AB, said the photo industry is in need of consolidation. Dagberg said Online Brands considers Albumprinter a worthy purchaser capable of taking the strong Önskefoto brand one step further. Dagberg noted that 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, he added.

Albumprinter is one of the leading European photo book specialists, active with their consumer brand Albelli. The acquisition of Önskefoto comes as part of Albumprinter’s continuing expansion in the online photo product market. Post the acquisition, Önskefoto and its websites - www.onskefoto.se and www.allfoto.no – will become part of the Albelli company portfolio with immediate effect. Albumprinter has net sales of approximately EUR 40 million and is represented in seven European countries. 

Dagberg further reiterated that ensuring a leadership role in this segment will require significant investments in product development, particularly in software. According to Dagberg, Önskefoto itself does not possess such resources. However, he said he believes 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 commented that Albumprinter has always been on the lookout for great opportunities to expand its business. Arends said the acquisition of Önskefoto provides the firm with a very attractive platform for growth in the Nordic countries. He further noted that Önskefoto is a respected and loved consumer brand in Sweden and Norway.

The Online Brands Group operates the leading e-stores in the Nordic market within selected product segments aimed primarily at women. The Group currently consists of Online Brands Nordic AB, the Parent Company, and Hedbergs Guld & Silver AB and Önskefoto AB (the name of which is in the process of being changed), its wholly owned subsidiaries.

Hedbergs Guld & Silver AB, www.hedbergsguld.se, sells gold, silver and other jewellery through e-commerce, mail order and an outlet in Dalsjöfors, outside Borås. During the past year, the Company focused on securing and strengthening its position as the leading jewellery store on the Web, through organic growth and the acquisition of operations whose primary sales channel is the Internet.

3rd April 2011

© Copyright 2010-16 Invest in EU All rights reserved.