Company to leverage Cimpress’ global scale and mass customization
capabilities to provide greater product selection for its reseller
customers
DUNDEE, United Kingdom & VENLO, Netherlands--(BUSINESS WIRE)--Aug. 10, 2015--
Tradeprint, the leading trade printer in the UK, is joining Cimpress
N.V., the world leader in mass customization. The acquisition of
Tradeprint was completed on July 31, 2015.
“The number one job of everyone at Tradeprint is to make our customers
successful,” said managing director Rod Scrimgeour. “We are proud to
provide outstanding quality, reliability, delivery speed and service at
very competitive prices. Thanks to the financial, technological, product
breadth and supply chain strength at Cimpress, we look forward to
delivering even greater value to our customers.”
“Resellers and graphic professionals greatly value reliable,
professional, rapid delivery of high-quality, price-competitive
products,” said Robert Keane, president and chief executive officer of
Cimpress. “With Tradeprint, we’ve found a partner that delivers
consistently on those criteria thanks to a highly talented and focused
team. We welcome them to Cimpress and look forward to helping them build
upon that very strong foundation.”
Based in Dundee, Tradeprint specializes in small-format printed products
including flyers, leaflets, business cards, posters, letterheads and
compliment slips. Dedicated account managers share a site with the
production team and can work with customers on technical advice.
“We believe that speed is one of the next frontiers in the trade print
business. Tradeprint offers same day production and next day delivery
throughout the UK. That is an incredibly valuable service to resellers
who are usually operating under very tight deadlines” said Keane.
“Beyond that and other aspects of Tradeprint’s already robust
capabilities, the Cimpress mass customization platform will enable them
to increase the breadth and depth of the product range offered to their
customers, and to benefit from our scale and knowledge in manufacturing
and supply chain operations.”
About Tradeprint
Tradeprint,
winner of the PrintWeek Awards Company of the Year in 2014, is the
leading trade printer in the UK. Since 2009, Tradeprint has pioneered a
new approach to printing. With the economies of scale and constantly
developing new technologies, Tradeprint has made premium quality print
and cutting edge print production accessible, reliable, and, most
important of all, affordable for local printers, print buyers, agencies,
brand managers and franchises across the UK. Tradeprint is a software
driven quality trade printer delivering an outstanding customer
experience.
About Cimpress
Cimpress N.V. (Nasdaq: CMPR) is the world
leader in mass customization. For 20 years, the company has focused on
developing software and manufacturing capabilities that transform
traditional markets in order to make customized products accessible and
affordable to everyone. Cimpress’ portfolio of brands includes
Vistaprint, Albelli, Drukwerkdeal, Pixartprinting, Exaprint and others.
That portfolio serves multiple customer segments across many
applications for mass customization. The company produces more than 46
million unique ordered items a year via its network of computer
integrated manufacturing facilities. To learn more, visit http://www.cimpress.com.
Cimpress and the Cimpress logo are trademarks of Cimpress N.V. or its
subsidiaries. All other brand and product names appearing on this
announcement may be trademarks or registered trademarks of their
respective holders.
Restricted Share Awards
As partial consideration for the
acquisition of Tradeprint, Cimpress issued a loan note to the company’s
founder, Paul Anderson, which was subsequently exchanged for 65,050
restricted ordinary shares of Cimpress. Subject to Anderson’s continued
employment with the company on each vesting date, 25% of these shares
will vest on August 1, 2016 and 75% of these shares will vest on August
1, 2017. If, prior to August 1, 2017, the company terminates Anderson’s
employment without cause, then Anderson’s shares will continue to vest
in accordance with the vesting schedule described above. Cimpress also
awarded an aggregate of 18,557 restricted shares to several members of
Tradeprint’s senior management team: Roderick Scrimgeour received 9,476
restricted shares, Alan Stirling received 4,343 restricted shares,
Sharon Downie received 2,764 restricted shares, and Stuart Mason
received 1,974 restricted shares. Subject, in each case, to the
recipient’s continued employment with the company on each vesting date,
25% of such recipient’s shares will vest on each of August 1, 2016,
August 1, 2017, August 1, 2018 and August 1, 2019. If, prior to August
1, 2019, the company terminates any such recipient’s employment without
cause, then such recipient’s shares will continue to vest in accordance
with the vesting schedule described above. The restricted shares being
transferred or awarded to Anderson and the Tradeprint senior management
team as described above constitute inducement awards in compliance with
Nasdaq Marketplace Rule 5635.
This press release contains statements about our future expectations,
plans, and prospects of our business that constitute forward-looking
statements for purposes of the safe harbor provisions under the Private
Securities Litigation Reform Act of 1995, including but not limited to
our expectations for the growth and success of our and Tradeprint’s
business. Our actual results may differ materially from those indicated
by these forward-looking statements as a result of various important
factors, including but not limited to our failure to develop our mass
customization platform or to realize the anticipated benefits of such a
platform; costs and disruptions caused by acquisitions and strategic
investments; the failure of the businesses we acquire or invest in to
perform as expected; our failure to execute our strategy; our inability
to make the investments in our business that we plan to make; our
failure to manage the growth and complexity of our business and expand
our operations; general economic conditions; and other factors described
in our Form 10-Q for the fiscal quarter ended March 31, 2015 and the
other documents we periodically file with the U.S. Securities and
Exchange Commission.
In addition, the statements and projections in this press release
represent our expectations and beliefs as of the date of this press
release, and subsequent events and developments may cause these
expectations, beliefs, and projections to change. We specifically
disclaim any obligation to update any forward-looking statements. These
forward-looking statements should not be relied upon as representing our
expectations or beliefs as of any date subsequent to the date of this
press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150810006154/en/
Source: Cimpress N.V.
For more info, please get in touch with:
Tradeprint Media
Relations
James Barrett-Bunnage, 01382 400 150 ext.1446
jamesb@tradeprint.co.uk
or
Cimpress
Media Relations
Cheryl Wadsworth, +1-781-690-2120
mediarelations@cimpress.com
or
Cimpress
Investor Relations
Meredith Burns, +1-781-652-6480
ir@cimpress.com