M&A Deal Summary

Shutterfly Acquires Photoworks

On April 27, 2011, Shutterfly acquired publishing company Photoworks from American Greetings

Acquisition Highlights
  • This is Shutterfly’s 1st transaction in the Publishing sector.
  • This is Shutterfly’s 2nd transaction in the United States.
  • This is Shutterfly’s 1st transaction in Ohio.

M&A Deal Summary

Date 2011-04-27
Target Photoworks
Sector Publishing
Buyer(s) Shutterfly
Sellers(s) American Greetings
Deal Type Divestiture

Target

Photoworks

Cleveland, Ohio, United States
Photoworks Inc. operates as an online personal publishing company.

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Buyer(S) 1

Buyer

Shutterfly

Redwood City, California, United States

Category Company
Founded 1999
Sector Internet Software and Services
Employees2,016
Revenue 2.0B USD (2018)
DESCRIPTION
Shutterfly's corporate headquarters in Redwood City, California.
Shutterfly's corporate headquarters in Redwood City, California.

Shutterfly is an Internet-based social expression and personal publishing service. Shutterfly provides products and services that make it easy for consumers to preserve their digital photos in a creative and thoughtful manner. Shutterfly was formed in 1999 and is based in Redwood City, California.


DEAL STATS #
Overall 2 of 10
Sector (Publishing) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 2 of 10
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-25 Tiny Prints

Sunnyvale, California, United States

Tiny Prints, Inc. is a web-based company comprised of two brands offering premium, personalized, social stationery, Tiny Prints and Wedding Paper Divas. Tiny Prints and Wedding Paper Divas provide simple, modern and unique stationery from birth announcements to baby shower and wedding and party invitations to thank you cards and holiday photo cards.

Buy $141M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-17 Penguin Digital

New York, New York, United States

Penguin Digital, inc. is a company whose flagship product is an iPhone application called Mobile Photo Factory, or just “MoPho” for short.

Buy -

Seller(S) 1

SELLER

American Greetings

Cleveland, Ohio, United States

Category Company
Founded 1906
Sector Consumer Products
Employees7,000
DESCRIPTION

American Greetings is a creator and manufacturer of innovative social expression products that assist consumers in making the world a more thoughtful and caring place. The Company's major greeting card lines are American Greetings, Carlton Cards, Gibson, Recycled Paper Greetings and Papyrus, and other paper product offerings include DesignWare party goods and American Greetings and Plus Mark gift-wrap and boxed cards. American Greetings also has one of the largest collections of greetings on the Web, including greeting cards available at Cardstore.com and electronic greeting cards available at AmericanGreetings.com. American Greetings was founded in 1906 and is headquartered in Cleveland, Ohio, and its products can be found in retail outlets worldwide.


DEAL STATS #
Overall 1 of 2
Sector (Publishing) 1 of 1
Type (Divestiture) 1 of 2
State (Ohio) 1 of 1
Country (United States) 1 of 2
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Papyrus-Recycled Greetings

Chicago, Illinois, United States

RPG designs, manufactures and distributes a humorous and affectionate line of everyday and seasonal greeting cards and other social expression products throughout the U.S. and Canada. RPG sells over 100 million cards to over 17,500 retail stores in the U.S. and Canada through most major channels of distribution including mass merchandisers, chain drug stores and supermarkets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-04 American Greetings Corp - Strawberry Shortcake Brand And Related Assets

United States

Strawberry Shortcake is a global brand with an impressive and diversified network of over 350 licensees.Strawberry Shortcake has a strong international business with two largest international markets are Brazil and France, where the brand is highly recognized as a local based brand, marketed as Moranguinho in Brazil and Charlotte aux Fraises in France.

Sell $105M