Agfa Graphics acquires Pitman Company USA

The Pitman Company acquisition substantially increases Agfa Graphics’ revenue in the US to more than $500 million. The incremental EBIT contribution is expected to be well in line with Agfa Graphics’ global 7 percent target.  After the closing, Agfa expects further growth of its US top line resulting from the combination of expertise available in both companies. Agfa also expects strong synergies to be delivered from the consolidation of sales forces and the reduction of G&A expenses.

 Based in Totowa, New Jersey, the Pitman Company counts 502 employees and 16 locations throughout the USA. The acquisition will enable Agfa Graphics to significantly strengthen its position in the US printing industry. Pitman’s large customer base and knowledge of the industry will offer immediate and unique growth opportunities for Agfa Graphics’ industrial inkjet and prepress solutions. Agfa Graphics’ addressable market will increase substantially, thanks to the addition of numerous product lines to its offering, including flexographic printing plate solutions for the packaging industry, pressroom products and value added services. Moreover, Agfa Graphics will be able to complement its own developed industrial inkjet offering with the addition of a vast range of media, new inks and wide format printing systems.