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Online Printing Company Parent Makes Acquisition
LONDON, November 9, 2012 /PRNewswire/ --
Tangent Communications owner of printed.com; provider of sticker printing
(http://www.printed.com/products/32/stickers--labels ) and general online printing
services, has announced the acquisition of the entire issued share capital of the
multi-national online company Goodprint for GBP10.2 million.
The Acquisition will provide access to Goodprint's 120,000 existing customers, and
boosts Tangent's international profile with immediate presence in 17 countries, including
France, Germany, and the Netherlands, and gives access to Goodprint's innovative mobile
technology. Goodprint delivered an operating profit of GBP1.2m for the year ended
September 2012;
The Concert Party, comprising Tangent chairman Michael Green, chief executive Timothy
Green and executive director Nicholas Green, will acquire 32.6m of the placing shares,
taking their combined shareholding to more than 91m shares (33% of the enlarged share
capital).
Part of the proceeds from the placing will be used to "accelerate investment in online
growth" for Tangent's Printed.com brand and Goodprint's goodprint.co.uk and pan-European
smileprint brands.
Timothy Green said in a statement: "Goodprint will sit alongside the existing
Printed.com business to create a multi brand web division. Printed.com has seen revenues
grow by more than 100% in the six months to the end of August 2012. We believe that the
combined company will be a major force in the rapidly growing market of small businesses
and consumers who value the convenience online customisation and personalisation offers."
"Through the acquisition, Tangent will gain instant access to an international market
since Goodprint already operates in 17 countries, including Germany, France, and the
Netherlands. The deal will also boost Tangent's portfolio with access to a greater range
of creative templates for marketing materials, over 120,000 new customers across Europe
and an immediate presence on mobile."
"This acquisition represents a step change for our business. This industry is
expanding and we intend to be amongst the leaders."
The company highlighted rapid growth in sticker printing
[http://www.printed.com/products/32/stickers--labels ], and general online printing
services Printed.com backed by a GBP600,000 advertising spend in the period, as well as
margin improvement in its Ravensworth and Tangent On Demand digital print businesses where
it was able to raise pricing "without significant impact on customer numbers or revenues."
About printed.com
printed.com is an online only printing store offering high quality printing of paper
products, from business cards to postcards, stickers to luxury wedding stationery at an
affordable rate. To find out more about their printed products and the benefits that they
can offer your business please visit http://www.printed.com
PR Issued by http://www.regroup-media.co.uk
printed.com
CONTACT: Scott Muir, scott.muir@regroup-media.co.uk, Tel: +44(0)7801-431100
Online Printing Company Parent Makes Acquisition
LONDON, November 9, 2012 /PRNewswire/ --
Tangent Communications owner of printed.com; provider of sticker printing
(http://www.printed.com/products/32/stickers--labels ) and general online printing
services, has announced the acquisition of the entire issued share capital of the
multi-national online company Goodprint for GBP10.2 million.
The Acquisition will provide access to Goodprint's 120,000 existing customers, and
boosts Tangent's international profile with immediate presence in 17 countries, including
France, Germany, and the Netherlands, and gives access to Goodprint's innovative mobile
technology. Goodprint delivered an operating profit of GBP1.2m for the year ended
September 2012;
The Concert Party, comprising Tangent chairman Michael Green, chief executive Timothy
Green and executive director Nicholas Green, will acquire 32.6m of the placing shares,
taking their combined shareholding to more than 91m shares (33% of the enlarged share
capital).
Part of the proceeds from the placing will be used to "accelerate investment in online
growth" for Tangent's Printed.com brand and Goodprint's goodprint.co.uk and pan-European
smileprint brands.
Timothy Green said in a statement: "Goodprint will sit alongside the existing
Printed.com business to create a multi brand web division. Printed.com has seen revenues
grow by more than 100% in the six months to the end of August 2012. We believe that the
combined company will be a major force in the rapidly growing market of small businesses
and consumers who value the convenience online customisation and personalisation offers."
"Through the acquisition, Tangent will gain instant access to an international market
since Goodprint already operates in 17 countries, including Germany, France, and the
Netherlands. The deal will also boost Tangent's portfolio with access to a greater range
of creative templates for marketing materials, over 120,000 new customers across Europe
and an immediate presence on mobile."
"This acquisition represents a step change for our business. This industry is
expanding and we intend to be amongst the leaders."
The company highlighted rapid growth in sticker printing
[http://www.printed.com/products/32/stickers--labels ], and general online printing
services Printed.com backed by a GBP600,000 advertising spend in the period, as well as
margin improvement in its Ravensworth and Tangent On Demand digital print businesses where
it was able to raise pricing "without significant impact on customer numbers or revenues."
About printed.com
printed.com is an online only printing store offering high quality printing of paper
products, from business cards to postcards, stickers to luxury wedding stationery at an
affordable rate. To find out more about their printed products and the benefits that they
can offer your business please visit http://www.printed.com
PR Issued by http://www.regroup-media.co.uk
printed.com
CONTACT: Scott Muir, scott.muir@regroup-media.co.uk, Tel: +44(0)7801-431100