TLT advises WHSmith on sale of Funky Pigeon

National law firm TLT has advised its long-standing client, WHSmith on its agreement to sell online personalised greetings card retailer, FunkyPigeon.com, to the high street retailer, Card Factory.

The transaction which will complete subject to customary regulatory approvals is valued at approximately £24 million in cash and is aligned with WHSmith’s strategic focus on travel retail, following the sale of its high street business earlier this year. The sale will accelerate Card Factory’s digital strategy by providing a platform for online growth in the direct-to-recipient card and gifting market.

TLT provided advice on the corporate, commercial, tax, employment, real estate, tech, IP and data aspects of the transaction.

The team was led by Head of TLT’s Corporate Team Andrew Webber Partner James Webb and Managing Associate Nicola Bilner with support from Senior Associate Greg Mazgajczyk and Associate Izzy Evans. The deal also required cross-practice support from TLT’s Commercial Legal Director Emma Davies, Tax Partner Mark Braude, Employment Associate Nikhil Mishra, Real Estate Legal Director Peter Blakemore and IP Partner Nick Fenner, together with their teams.

Ian Houghton, Company Secretary at WHSmith commented: ‚ÄúOur relationship with TLT stretches back a long way, and we were pleased to be able to once again call on their trusted services. TLT‚Äôs expertise and understanding of the consumer retail market can always be counted on. ‚ÄúTheir hard work and diligence ensured this sale could be completed in a timely and efficient manner ‚Äì we‚Äôd like to extend our thanks to the team.‚Äù 

James Webb, Partner in TLT’s Corporate Team added: “It was a pleasure to support WHSmith on its agreement to sell FunkyPigeon.com, having originally advised them on its acquisition back in 2010. The sale of FunkyPigeon.com to Card Factory demonstrates that there will always be appetite for high-profile businesses with a strong commercial offering and strategic value.”