You are here
Bloomberg: Shutterfly bonds fall on delay of annual report Earnings reports 

Bloomberg: Shutterfly bonds fall on delay of annual report

Bloomberg Law reports Apollo Global Management-backed Shutterfly LLC’s bonds fell Tuesday, April 18, after the photo products retailer informed investors it will delay the release of its annual results for 2022, according to people with knowledge of the matter. According to the report from Bloomberg’s Reshmi Basu and Erin Hudson, Shutterfly advised debt holders it amended its credit documents to... Read More
Bloomberg reports insiders claim Shutterfly lost $45-$55 million in 3Q Earnings reports News 

Bloomberg reports insiders claim Shutterfly lost $45-$55 million in 3Q

Bloomberg reports leading photo products retailer Shutterfly LLC released preliminary third-quarter earnings reflecting steeper losses than last year, according to people with knowledge of the private results in the article. The Apollo Global Management-backed company booked a preliminary loss of $45 million to $55 million before interest, taxes, depreciation, and amortization, said the source, who asked not to be identified because... Read More
WSJ: Shutterfly in talks to go public. Again. News 

WSJ: Shutterfly in talks to go public. Again.

Less than two years since leading photo personalization company, Shutterfly Inc., went private through its acquisition by Apollo Global Management, the Wall Street Journal reports the company is in talks to go public as part of the latest wave of financial tools called “special-purpose acquisition companies, or SPACs.” According to the article by Cara Lombardo and Miriam Gottfried, Shutterfly is... Read More
Apollo Global Management to acquire Michaels for $5 billion Acquisitions 

Apollo Global Management to acquire Michaels for $5 billion

Craft retailer The Michaels Companies announced it has entered into a $5 billion deal to merge with affiliates of investment fund Apollo Global Management. (Incidentally, Apollo Global Management owns Shutterfly Inc.) Under the terms of the agreement, Apollo will commence a tender offer to acquire all outstanding shares of Michaels for $22.00 per share in cash. The purchase price represents... Read More
Vistaprint parent Cimpress takes $300 million investment from Apollo Global Management News 

Vistaprint parent Cimpress takes $300 million investment from Apollo Global Management

Apollo Global Management Inc. is investing $300 million in Cimpress plc, the parent of Vistaprint and other commercial printing entities. The move is part of several actions Cimpress management is taking to counter the impact of the worldwide COVID-19 pandemic. In 2019, Apollo Global – which manages billions of dollars across multiple funds and sectors – purchased Shutterfly and Snapfish.... Read More
Apollo completes Snapfish acquisition, combines with Shutterfly Acquisitions News 

Apollo completes Snapfish acquisition, combines with Shutterfly

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... Read More
WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly News Opinion 

WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly

The Wall Street Journal is reporting Barclays PLC, Citigroup Inc. and other investment banks hired by Apollo Global Management have struggled in recent days to raise about $2 billion of debt for the buyout of Shutterfly Inc. Due to the tepid reception to the debt, the banks agreed to buy up to $280 million after failing to find enough outside investors,... Read More
Shutterfly sale closes for $2.7 billion Acquisitions News Press releases 

Shutterfly sale closes for $2.7 billion

Shutterfly, Inc. stockholders receive $51.00 per share in cash in a transaction with an enterprise value of $2.7 billion REDWOOD CITY, Calif.–(BUSINESS WIRE)–Shutterfly, Inc., a leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, and affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated... Read More
Shutterfly Announces Second Quarter 2019 Financial Results Earnings reports Opinion Press releases 

Shutterfly Announces Second Quarter 2019 Financial Results

Shutterfly announced second-quarter financial highlights, for the period ending June 30. (To read the entire press release, click here.) The company, which entered into an agreement in June to be acquired by Apollo Global Management in a deal expected to be concluded early in the fourth quarter. Shutterfly reported net revenue of $473 million, with an operating loss of $7.9... Read More
Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations News Opinion 

Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations

While most industry watchers have acquiesced that the acquisition of Shutterfly by Apollo Global Management, with the corresponding merger with Snapfish, is a done deal, there are still some steps to be completed by the expected close by the end of the year. First, the merger is subject to government scrutiny under the Hart-Scott-Rodino Act, designed to maintain competition. As... Read More
Apollo Global Management to acquire Shutterfly, Snapfish News Opinion 

Apollo Global Management to acquire Shutterfly, Snapfish

Funds Managed by Affiliates of Apollo Global Management Announce the Acquisition of Shutterfly, Inc. in an All-Cash Transaction Valued at $2.7 Billion Shutterfly, Inc. stockholders to receive $51.00 per share in cash in a transaction with an enterprise value of $2.7 billion Apollo Funds separately enter into a definitive agreement with Snapfish NEW YORK, June 10, 2019 (GLOBE NEWSWIRE) —... Read More