Online printer Vistaprint has announced it has acquired Amsterdam-based Albumprinter for EUR60 million. Albumprinter has EUR38 million in revenues and 150 full-time employees. The deal with be worth 5 million Euros more if Albumprinter meets “certain financial objectives” in its 2012 financial year.
“We look forward to welcoming the Albumprinter team and to combining our talent and strengths in support of customers throughout Europe. Albumprinter brings a company culture focused on customer satisfaction, intuitive user interface software, strong photo book manufacturing experience, a premium brand and a solid financial profile,” said Robert Keane, President and Chief Executive Officer of Vistaprint.
Vistaprint also announced its financial results for the company’s first quarter of 2012, which ended September 30. The company has seen its revenue increase to US$212.4 million, a growth of 25 percent over the same period in 2011.
Operating income, however, has fallen 21 percent to $9.7 million, or 4.6 percent of revenue, compared to $12.3 million (7.2 percent of revenue) in Q1 2011. In the quarter, the company acquired 1.9 million new customers.
The company says it plans on making capital expenditures of $60-$75 million in 2012.
On October 21, 2011, Vistaprint entered into a $250 million senior unsecured revolving credit facility with JPMorgan Chase Bank. The maturity date of the credit facility is October 21, 2016.