Mass customisation specialist Cimpress N.V. (also owners of VistaPrint) announced on 12th December 2016 that it has entered into a definitive agreement to acquire Ireland based writing instrument specialist National Pen Co. LLC.
The recent edition of the EPPI Newsflash reported that Cimpress will acquire 100% of the outstanding equity interests of National Pen, for a purchase price of approximately £174m ($218m). National Pen’s revenue is expected to be approx. £219m ($275m). Cimpress expects the transaction to close as early as the end of December 2016.
According to Cimpress, the acquisition supports the company’s strategy to build supply chain capabilities made available through its mass customization platform. National Pen will complement the investments Cimpress has already made in the promotional products, apparel, and gifts sectors. “National Pen is a clear leader in one of the key promotional product segments and has excellent manufacturing and supply chain capabilities which we do not have today,” said Robert Keane, President and CEO of Cimpress. “By combining the company’s capabilities and expertise with those of Cimpress, we are confident we can help to grow both National Pen and the promotional products offering of our existing portfolio of brands.”
As part of Cimpress, National Pen will continue to go to market through direct mail and telesales, while Cimpress intends to introduce the National Pen product range into its Vistaprint and Upload and Print e-commerce brands. Peter Kelly, National Pen’s President and CEO, said, “We believe our industry is at the beginning of a period of disruptive shift to e-commerce, and we are thrilled about the opportunities that joining Cimpress will create for our customers and team members.”
Cimpress N.V. is one of the world leaders in mass customisation and owns Vistaprint, Albelli, Drukwerkdeal, Pixartprinting, Exaprint, WIRmachenDRUCK and others.
Published on: December 15th, 2016