Vistaprint acquires Albumprinter

Albumprinter, based in Amsterdam, with a manufacturing presence in the Hague, is an important player in the estimated €400 million European online photo book market. The company recorded sales of approximately Euro 37 million in the trailing twelve months ended September 30, 2011, and employs about 150 full-time employees. Under its brands, Albelli, Bonusprint, and Önskefoto, Albumprinter has a primary market presence in the Netherlands, Belgium, the United Kingdom, Germany, France, Sweden and Norway. The company processes thousands of orders per day through both a direct-to-consumer model, and a B2B model, for which it has partnered with leading retail stores throughout Europe. Since its launch in 2003, Albumprinter has serviced more than 2 million consumers in Europe with its photo product proposition.

With a unique business model supported by proprietary technologies, high-volume production facilities, and direct marketing expertise, Vistaprint offers a wide variety of products and services that micro businesses can use to expand their business. A global company, Vistaprint employs over 2,800 people, operates 24 localized websites globally and ships to more than 130 countries around the world. In the last fiscal year that ended June 30, 2011, the company recorded sales of US$ 817.0 million (plus 22% year on year) with a net income of US$104.5 million (plus 15% year on year).

The acquisition is intended to combine Vistaprint’s strengths of a pan-European customer base with Albumprinter’s specialized expertise and technology for the design and production of photo books. Vistaprint currently plans to promote the Albumprinter offering across the European market. The acquisition will also enable Albumprinter’s customers to access a much expanded product range including the personalized products that Vistaprint produces. “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 CEO of Vistaprint.

Albumprinter Chief Executive Officer Kees Arends commented, “We expect to provide a product line and expertise that complement Vistaprint’s current offerings and geographic reach in the European market. As a company with a similar focus on core capabilities, we are excited about further development of our products and services in order to address what we believe to be a large and growing opportunity. This combination should enable us to even better serve a growing group of satisfied customers.”

Albumprinter management and employees will join the Vistaprint team, but will continue to operate under the Albumprinter brands. The transaction is expected to be completed within one month.