Elanders makes new acquisition and continues to grow in online print
Press Release from Elanders AB (publ) 2021-07-06
Elanders has today acquired all the shares in the German digital print company Schätzl Druck & Medien GmbH & Co. KG (“Schätzl”). Schätzl is a fast-growing company that in the last twelve months had net sales of around MEUR 15 with good profitability. The company has chosen to specialize as a subcontractor in the segment online print with the focus on niche products.
In line with Elanders’ strategy to invest and grow in the segment online print Elanders has signed a contract to acquire the German digital print company Schätzl Druck & Medien GmbH & Co. KG. Online print is one of the few areas in printing that can show an organic growth. Schätzl is specialized as a subcontractor in online print and is one of the leading actors on the German market. Some examples of the products they make are personalized and receiver-customized children’s books, invitation cards, photo products as well as smaller editions of books and catalogues.
Elanders is already a well-established subcontractor in online print and has one of the largest digital printing plants in Germany. Sven Burkhard, responsible for Print & Packaging Solutions in Elanders says:
“I’m really impressed by the company Ulrich Schätzl has built up. With Schätzl on board Elanders will be one of the top-tier leaders in Europe in online print. Not only as subcontractors, but with our own brands as well. We offer everything from photo products to consumers to B2B marketing and packaging material. Elanders is already one of the leading digital print suppliers in Germany with our printing plant on the outskirts of Stuttgart where we produce everything from large volumes with inkjet technology to individual copies with normal digital print.”
Ulrich Schätzl, CEO and owner of Schätzl, comments:
“I’m really proud of the growth journey we’ve made in recent years and the transformation of the company to a purely digital printer. Today we can offer our customers a highly automated manufacturing process for editions of any size all the way down to a single copy. Together with Elanders we will be able to offer a very competitive concept in online print, both to existing and new customers in Europe.”
Net sales in Schätzl during the latest twelve months period were around MEUR 15 with good profitability. The company will be consolidated into the Group as of July 2021. The purchase price was MEUR 8 on a debt-free basis and is expected to negatively affect cash flow in the third quarter 2021. The previous owner can also receive an additional purchase sum in year 2024, if the company continues to develop very positively in the next three years. Acquisition costs are expected to amount to around MSEK 1.
For further questions, please contact
Magnus Nilsson, President and CEO, telephone: +46 31 750 07 50
Andréas Wikner, CFO, telephone: +46 31 750 07 50
This information is information that Elanders AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 14:15 CET on 6 July 2021.