Prima Printing has agreed to acquire 100 per cent of the share capital of PMI Imageworks in a move that will bring together two highly successful personalisation and print-on-demand businesses.
Following the close of the transaction, the two businesses will continue to operate independently through each business’ peak trading season of 2022, but with greater collaboration and co-operation.
Prima Printing is part of the District Photo Inc. group of companies, based in Maryland USA, which together with Harrier, based in Newton Abbot in the UK, forms one of the world’s largest digital print fulfilment companies.
Prima started in 2016 and has over 65 staff located in Melbourne and overseas and runs a large fleet of digital, dye sublimation, DTG and eco-solvent printers and unique finishing infrastructure. It most recently installed a Kornit Atlas digital textile printer in July last year.
PMI Imageworks started in 2012 and based in Brunswick, Victoria, has a broader range of products than Prima and more variability within its product range. That was one of the reasons for Prima’s interest in the business.
Prima Printing managing director Amnon Judah said, “the strategic acquisition will enhance the capabilities for both businesses to cross-sell to our combined clients and provide the basis for further investment in infrastructure to remain at the leading edge of automation and efficiency.
“Both businesses are nimble and smart players in a highly competitive global market. Combining the capabilities of both operations will deliver more value, scale, redundancy, and capacity to clients. We look forward to working with Chris and his team to create a future together.”
PMI Imageworks, owned and led by Chris Zapris, is also a market leader in personalised wall art, art prints and home decor as well as in producing photobooks, cards and gifts.
Commenting on the signing of the deal, Zapris said, “I am exceptionally proud to have led a world class management and production team that has earned us global recognition.
“Our amazing customers will benefit greatly with the planned investment in infrastructure and resources. I am assured Chris Hughes, and his team will continue to work tirelessly to support all our loyal customers.”
District Photo Inc. CEO and president Chris Hughes said, “I am delighted that we have agreed terms that will bring these two businesses together under the same ownership structure.
“There will be no immediate changes to the way the two business operate under Chris and Amnon, but we will work collaboratively towards a common goal of delivering best in class customer service, with unparalleled quality of product and exacting SLA terms.
“There is little or no customer overlap, so our expectation is that our fulfilment partners will see considerable benefits over the medium term from this transaction, strengthening the enlarged organisation in these most challenging of times.
“It has been a privilege working with Chris Zapris on this deal and I thank him for his professionalism and trust as we worked together through this complex agreement.”
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