Card Factory: Retailer announces completion of acquisition of funkypigeon.com
Retailer Card Factory has announced the completion of the acquisition of online firm funkypigeon.com from WH Smith for £24m as it looks to boost its web offering.
In a statement for investors, Card Factory said the deal had completed on the terms announced on July 29.
Funky Pigeon, which operates out of Guernsey and Bristol, specialises in personalised cards and gifts and makes around £32m in sales on average a year.
Card Factory – which has over 1,000 stores across the UK – said it wants to expand its online business, with Funky Pigeon’s technology platform set to be the basis for its digital business in the UK and Ireland “over time”.
In a statement issued on Friday, Darcy Willson-Rymer, cardfactory Chief Executive Officer, commented: “This acquisition represents a key milestone in delivering our strategic ambition to build a scaled and competitive digital presence in the celebration occasions market.
"We welcome our new Funky Pigeon colleagues into the group and look forward to working together to accelerate our growth in the direct-to-recipient card and gifting segment, bringing together Funky Pigeon's high-quality technology platform and digital expertise with our strong store estate and broader celebrations offer.”
At the time the deal was announced in July, Card Factory said the acquisition accelerated the group’s existing digital strategy, providing access to a large, established customer base and a high-quality technology platform for online growth.
The statement issued in July added: “It also supports its ambition to become the leading omnichannel retailer in our sector.
“Upon completion, Card Factory will be the second largest online card and attached gift retailer in the UK market, providing a great value offer to consumers across personalised cards, attached gifting and celebration essentials.”
The group also said it expects the acquisition to be earnings enhancing in the financial year ended 31 January 2027.