PlanetArt acquires Illinois-based Personal Creations from FTD
PlanetArt, a technology platform in the personalized products industry, has wrapped up the acquisition of Personal Creations from floral and gifting company FTD Companies for $18.1 million plus certain additional payments, as part of the latter’s court-supervised restructuring.
Based in Illinois, Personal Creations is said to bring a new gifts dimension to PlanetArt’s platform of personalized products.
PlanetArt is known for its FreePrints family of mobile apps, Simply to Impress website and other assets that provide photo prints, cards, photo books, and wall décor.
The acquisition of Personal Creations is expected to improve the business and growth trajectory of PlanetArt with the addition of a personalized gifts component that is well-established.
PlanetArt acquires Personal Creations from FTD. Image by Free-Photos from Pixabay.
Commenting on PlanetArt acquisition of Personal Creations, Roger Bloxberg – CEO and co-founder of PlanetArt, said: “Personal Creations is the ideal complement to the existing PlanetArt ecosystem.
“It is the ecommerce leader in personalized gift products with a long and impressive history of innovation, and we are pleased to be expanding our business into this important category and delighted to welcome a world-class team.”
Roger Bloxberg also said: “Among other things, it enhances the customer value proposition. For example, there are tremendous synergies between our card apps and websites on the one hand and, on the other, the ability to include premium-quality custom-created gifts as unique as the people receiving them.”
The product catalog of Personal Creations ranges from school supplies to clothing and accessories, from kitchenware to hostess gifts. Its acquisition is expected to provide various new product opportunities for the larger PlanetArt business.
Scott Levin – CEO of FTD, commenting on PlanetArt acquisition of Personal Creations, said: “We believe that the sale of Personal Creations to PlanetArt maximizes value and is the best path forward for the business, its customers and its employees.
“We know the PlanetArt team well and are confident that Personal Creations will flourish under its new owners, who will build on the company’s strong foundation and carry its vision well into the future.”
The acquisition will provide PlanetArt gifting specialist staff in merchandising, development, design, operations and marketing and with various brands like PersonalCreations.com, Gifts.com, and RedEnvelope.com.
The financial advisor for the transaction for PlanetArt was Oppenheimer & Co, while Bryan Cave Leighton Paisner, Culhane Meadows, and Fox Rothschild were its legal counsel.