Smartphoto Group NV (ENXTBR:SMAR) acquired Frucon² Nv from Benny Sintobin for €4.6 million on December 2, 2021. Consideration is €4.15 million in cash and €0.50 million in treasury shares of smartphoto group. The turnover of Frucon for the year ended December 31, 2020 was approximately €12 million. Both the management and all employees of Frucon 2 will become part of smartphoto group, but they remain to operate as a separate division under their own brands Gift.be, GiftsforEurope.com and Nayan. Smartphoto expects Frucon² to make a positive contribution to the group results as early as 2022. Smartphoto Group NV (ENXTBR:SMAR) completed the acquisition of Frucon² Nv from Benny Sintobin on December 2, 2021.