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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, 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.

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