(L-R) Ernst Teunissen, executive vice president & CFO Vistaprint, Matteo Rigamonti, Founder Pixartprinting, Alessandro Tenderini, CEO Pixartprinting and Ashley Hubka vice president, Corporate Strategy Vistaprint
For a total value of €127 million Vistaprint will acquire a stake of 97% in Italian web to print specialists Pixartprinting.
The acquisition follows the entry of private equity fund company Alcedo in 2011, which worked alongside Pixartprinting management, contributing to the achievement of results in terms of revenue growth.
Now Vistaprint will look to continue this growth with an eye to entering the world market. This is a development plan already outlined from its infancy in the entrepreneurial vision of Matteo Rigamonti, founder of Pixartprinting, ‘The print market B2B online still has great potential. Vistaprint is an additional accelerator for us to approach new markets alongside a multinational company listed on the Nasdaq, with offices worldwide and synergistic to our business.’
In the face of a major expansion in the local market despite the current economic environment, growth abroad is one of the drivers on which the company has based the development plan. The company operates in the European market as a multinational company: for each country considered commercially viable, a ‘virtual store’ has been created, with personalised workflows and shops now available online in 11 languages. ‘The impact abroad is increasing year by year. This makes our reality more stable and less susceptible to changes in individual markets,’ said Mr Rigamonti.
Robert Keane, president and CEO of Vistaprint stated, ‘We believe this agreement will lead to benefits both in terms of the sharing of know-how, expansion of the range, savings in the production process and logistics management, focusing on the strength of the individual brands that will continue to operate independently with their own identity and position.’
