NL – On December 12, 2016, mass customisation specialist Cimpress N.V. announced it has entered into a definitive agreement to acquire writing instrument specialist National Pen Co. LLC. Under the terms of the agreement, Cimpress will acquire 100% of the outstanding equity interests of National Pen for a purchase price of approximately 218 mil. US Dollars (approx. 205 mil. Euros). National Pen’s revenue is expected to be approx. 275 mil. US Dollars (approx. 259 mil. Euros) in 2016. Cimpress expects the transaction to close as early as the end of December 2016.
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.