Skip to content
Search
AI Powered
Latest Stories

PayPoint acquires gifting and rewards provider Appreciate Group

PayPoint acquires gifting and rewards provider Appreciate Group

PayPoint has reached an agreement to acquire leading gifting and engagement company Appreciate Group.

Under the terms of the acquisition, Appreciate Group shareholders will receive 33 pence in cash and 0.0190 new PayPoint shares for each Appreciate Group share.


Based on the closing price of a PayPoint share of 580 pence on 4 November, the last business day prior to the date of the acquisition announcement, the deal values each Appreciate Group share at 44 pence and the entire ordinary share capital of the company at approximately £83 million on a fully diluted basis.

Following completion of the acquisition, Appreciate Group shareholders will hold approximately 5 per cent of the enlarged issued share capital of PayPoint.

PayPoint has last year secured a partnership with to Appreciate Group offer its Love2Shop e-Gift Cards through PayPoint's network of retailer partner stores across the country.

Commenting on the Acquisition, Nick Wiles, Chief Executive of PayPoint, said: "The PayPoint board believe the proposed acquisition of Appreciate Group provides a compelling opportunity to acquire a highly complementary business with well-established offerings in prepayment savings and the corporate and consumer gift card and voucher sector.

“Appreciate Group brings a well-established technology platform, a strong customer base, a network of popular brand partners and significant headroom for growth across the UK consumer and corporate gifting markets which is valued at more than £8bn in the UK. The acquisition will strengthen our digital payments offering and create an enhanced retail proposition across our partner network, including more than 28,000 convenience stores, delivering additional growth opportunities for the enlarged Group.”

Guy Parsons, executive chairman of Appreciate Group, added: “PayPoint's offer represents an attractive premium for Appreciate Group Shareholders providing an opportunity to exit the majority of their shareholdings for cash, whilst participating in the potential upside of the combined Appreciate Group and PayPoint businesses over the long-term.

“We believe that all three segments of the Wider Appreciate Group's business can prosper under PayPoint's ownership given PayPoint's capabilities, and that the Acquisition represents a good opportunity for all our stakeholders to benefit from both the immediate cash consideration and the potential future value creation and enhanced capabilities to Appreciate Group's consumer and corporate clients arising as a result of the combination of the businesses.”

More for you

Freight crime cost over £680 million

iStock image

Freight crime cost over £680 million

Freight-related crime cost the UK economy an estimated £680-700 million in 2023, when accounting for lost revenues, VAT, and insurance costs, revealed a recent report from the All-Party Parliamentary Group on Freight and Logistics.

The study, funded by the Road Haulage Association (RHA), documented 5,370 reported incidents of HGV and cargo crime across the UK last year, a 5 per cent increase on the previous year. Experts suggest that the actual figures could be significantly higher due to under-reporting. The direct value of stolen goods reached £68.3 million.

Keep ReadingShow less
 a glass jar of honey
Photo: iStock

British beekeepers urge retailers to stock local honey as imported products fail authenticity test

British Beekeepers’ Association (BBKA), which represents hobbyist beekeepers, has urged retailers to stock local honey, after a new research raised significant questions about the composition of blended honey samples imported to the UK and sold at supermarkets.

In a recent authenticity test, 96 per cent of samples of imported honey from supermarkets were found to be ‘atypical’ for honey, compared to 100 per cent of UK beekeeper samples that were deemed ‘typical’.

Keep ReadingShow less
​Illegal vapes

Illegal vapes seized in Swindon raids

Photo: Wiltshire Police

Five arrested after seizure of illegal vapes worth thousands of pounds in Swindon

Wiltshire Police have arrested five people and seized more than £55,000 worth of illicit vapes, tobacco and alcohol following a series of warrants in the Broadgreen area of Swindon.

In a joint operation HMRC and Trading Standards, officers executed four warrants in Manchester Road at three stores and a property on Tuesday as part of the force’s ongoing Clear Hold Build work within Broadgreen.

Keep ReadingShow less
Volumatic welcomes new FCA rules safeguarding access to cash

Volumatic welcomes new FCA rules safeguarding access to cash

As industry leaders is cash handling, Volumatic has long supported the use of cash and the importance of maintaining access to cash for both consumers and businesses. The company recognises the importance of the new set of rules created by the Financial Conduct Authority (FCA) two months ago, to safeguard access to cash for businesses and consumers across the UK.

Since introduction, the new rules are intended to ensure that individuals and businesses who rely on cash can continue to access it and the outcome has already sparked the creation of 15 new banking hubs across the UK, including one in Scotland, with many more to follow.

Keep ReadingShow less