The agreement, which has been voluntarily submitted to the Competition Markets Authority (CMA) for review, would see both companies join forces under one group - CB Group Holdings - to provide exciting and significant money-saving opportunities for current and future members across the world.
Both Quidco and TopCashback were established in 2005 and have since been providing money-saving deals to consumers shopping with retailers either in-store or online. The companies now have millions of members worldwide earning cashback on shopping activity.
Should the agreement be approved, both publisher brands in addition to Shoop would continue to remain independent of each other in order to preserve the focus on their own members, as well as safeguard the drive and commitment that has underpinned the growth each business has achieved leading up to this agreement.
By forming the new group and allowing the existing brands within it to remain independent, it will ensure future innovation and creativity for consumers as well as having a hugely positive effect on the cashback industry both in the UK and internationally as well - with TopCashback and Top Benefit programmes currently live in China, the USA, India, Norway and Ireland, while the Maple Syrup Group operates in Ireland and Poland through its white label business and Shoop in France and Germany.
“TopCashback has grown phenomenally from when it first started in 2005, and key to this was our commitment to always ensuring we offer members the best money-saving opportunities possible,” said Olly Ragg, Co-Founder and Director at Top Online Partners Group; “Creating a bigger money-saving group with Maple Syrup Group is the next logical step in reaching even more people around the world to help them save as much money as possible. We look forward to hearing back from the CMA, and all being well, continuing our work to revolutionise the global money-saving industry.”
“Over the years we have continued to develop a very wide range of money-saving offers for users along with Top Online Partners Group, so joining forces to create even more money-saving opportunities for our members while bringing our values and concepts to a global audience is an exciting step forward. We want our members to receive the value they deserve on every transaction they make and this helps us achieve that,” added Paul Nikkel, Founder of the Maple Syrup Group.