Three gift card and incentives businesses, AnyCard, Lifestyle and Savvy, have agreed to combine under a new parent, Norell, backed by Codex Capital and the founding businesses’ existing investors. The group generates combined revenue of more than 100 million pounds, the companies said.
The components are complementary. Lifestyle, a UK pioneer of multi-brand gift cards, reaches more than 750 brand partners for consumer and corporate gifting. AnyCard and Savvy add processing, international retail distribution and product development. Together the businesses serve more than 2,000 corporate clients in partnership with over 1,300 brands, have processed more than 8 billion dollars in card value across more than 45 countries, and operate in 33 currencies. Each brand keeps its identity and market focus under the Norell parent.
Codex’s new investment is earmarked for technology, content and service capability. The companies size the global gift card, rewards and incentives market at 1.5 trillion dollars in 2026, their own cited estimate, which is the pitch for consolidation: in a market that large, processing scale and brand distribution are the defensible assets, and three mid-sized platforms have decided to hold them jointly.