An Post buys majority stake in gift card firm

An Post has invested €9m for a majority stake in Irish pre-paid gift card company the Gift Voucher Shop (GVS), It was announced today.

GVS had sales of €52m in the Republic of Ireland in 2008 and this figure is expected to increase this year. As part of a recent strategic alliance with the British Post Office, the expanding company has secured five years exclusive access to 12,000 UK Post Offices and 8,000 pay station outlets.