ELTA.L Share News (ELTA)

(ShareCast News) - Electra Private Equity is planning to acquire personalised product company Photobox Group with Exponent Private Equity in a deal worth £400m.The FTSE 250 company announced the deal on Tuesday.Photobox Group is the parent of the PhotoBox, Moonpig, PaperShaker, Sticky9, Hofmann, Posterjack and posterXXL brands.The group has fulfilled 19m orders across Europe in the last twelve months, and the acquisition would support Photobox Group's expansion plansElectra would invest £89m into the group, and the Financial Times reported the total value of the sale is around £400m.However the deal is still subject to employee consultation and regulatory clearances.Bill Priestley, partner at Electra Private Equity's manager Electra Partners, said Photobox is the market leader in Europe."It is uniquely placed due to its scale to capture further growth as the macro trend for personalised gifts continues."We look forward to working with Exponent and Photobox Group's management in driving the business forward to its next stage."