North East gift card provider MBL Solutions has been sold to new owners in a deal worth up to £3.5m.
The Seaham-based business been sold to Liverpool’s Appreciate Group by its former parent company Redu Group for an initial sum of £1.65m, with a further £1.8m deferred for 12 months dependent on certain criteria.
Appreciate Group is home of Love2shop, Park Christmas Savings, highstreetvouchers.com and Appreciate Business Services and it plans to leverage MBL’s market-leading digital platform to advance its technology and enhance products and services within the gift card sector.
Source: Chronicle Live
