Apollo Global Management Inc. announced the successful completion of their previously announced acquisition of Snapfish, LLC and the combination of Snapfish with Shutterfly Inc., which was acquired by the Apollo Funds Sept. 25, 2019. According to the announcement, Snapfish owners became significant minority owners in the combined Shutterfly and Snapfish business.
“As a business dedicated to connecting people, places and memories through photos, we look forward to continuing our mission as part of Shutterfly,” said Jasbir Patel, President and CEO, Snapfish.
“The close of this transaction marks an important milestone in the history of Snapfish,” said Neil D. Cohen, CEO of District Photo, Snapfish’s former parent company. “We cannot think of better strategic partners than Shutterfly and Apollo to continue our long-standing mission of making memories easily accessible and affordable for everyone.”
“We are thrilled to work alongside Neil to continue to advance the industry-leading platforms at Shutterfly and Snapfish which deliver treasured products to customers,” said Reed Rayman, partner at Apollo. “We believe the unique combination of Snapfish and Shutterfly, both global leaders in the photo personalization industry, will drive growth and foster innovation over the coming years.”