Benchmark International is pleased to announce the acquisition of London-based Firebox by Austrian-based MH Direkt.
Established in 1998, Firebox.com is an online retailer of unusual gifts, games, gadgets, and food & drink goods. Launched on the back of its incredibly successful invention; the ‘shot glass chess set’, Firebox was one of the first UK e-commerce success stories.
MH Direkt is a one-stop provider for the e-commerce sector and works with a number of online retailers. It owns European gift sites Radbag, Troppotogo and CadeauxFolies.
The acquisition of Firebox is an important milestone in the growth strategy of MH Direkt as it looks to develop in the UK, with Firebox providing the opportunity to build up local warehouse and fulfilment capabilities.
Post-acquisition, both shops will operate separately, but work closely together in terms of marketing and product development.
Philipp Schindler, MH Direkt’s CEO, said: “Firebox was always a role model for us and we’ve learned a lot from them when it comes to creating a really great, extraordinary gift shopping site, so we believe that our own shops and Firebox complement each other very well.”
Kristian Bromley, Managing Director at Firebox commented “We are very excited about this new chapter for the business and delighted to work for Philipp and the MHD team. We've been close allies for a long time and this move makes perfect sense for all of us. Our aim is to continue to grow our unusual product offering and be the go-to destination for hard-to-find, unique gifts.”
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Enquiries@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximising solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $6B across various industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.