Vistaprint is acquiring Pixartprinting
Vistaprint is an online print giant that has acquired Pixartprinting. Pixartprinting is owned by private equity firm Alcedo SGR. The value of the deal was worth around 127 million euros. The deal is expected to close in Q4 2014. Vistaprint will own 97% of the company and the founder of Pixartprinting will own the remaining 3%.
Pixartprinting is based in Quarto D’Altino, Veneto, Italy and has around 330 employees. Pixartprinting’s revenue is generated mostly from graphic design agencies, print resellers, and local printers. These businesses serve small and medium businesses. Pixartprinting’s revenue in 2013 was approximately €56 million, which is 35% year-over-year growth.
“We are excited about the opportunities this acquisition will provide us. We started as a family-run traditional printing business in 1994 and during the last decade, we have transformed into a successful web-to-print business that still places the customer at the center of our goals. We believe Vistaprint will be a strong partner for future international growth as we tap into its scale, global presence, financial strength, technology and manufacturing process expertise,” stated Pixartprinting chief executive officer Alessandro Tenderini.