Cimpress said the acquisition would bring a variety of high-quality products and a sophisticated network of outsourcing partners to the group that are expected, over time, to significantly expand the breadth and depth of its offering.
The UK arm of Exagroup's largest trade-printing brand, Exaprint, was established in 2013.
“We are excited to welcome Exagroup, its team members, and customers to Cimpress,” said Cimpress chief executive Robert Keane.
“We are impressed by the company’s reputation for innovation, creativity, quality and reliability and look forward to supporting Exagroup in deepening its partnerships with its valued resellers.
“Over the past 15 years, Exagroup has earned the loyalty of local printers, copy shops and graphic arts professionals by delivering a wide array of innovative, creative and high-quality products via a simple-to-use extranet, complemented by white label marketing tools that enable resellers to fully control and own the relationship with the end customer.
“Cimpress plans to continue to invest in this reseller-focused value proposition and to use the versatility of our mass-customisation platform to bring even more value to Exagroup resellers.”
Exagroup’s chief executive officer Nicolas Dematté added: “We are thrilled to join Cimpress and are excited about the opportunities this acquisition will provide to our customers and employees.
“We share a common vision of the future evolution of our industry, understanding that scale drives competitive advantage. Being part of Cimpress will strengthen Exagroup’s ability to help our customers succeed by augmenting our product range and helping to drive competitive costs.
“We have found a partner that provides international presence, financial strength and significant advantages in technology and operations, yet who is strongly committed to retaining and furthering Exagroup’s unique strengths and reseller-focused value proposition.”
Cimpress said it is committed to maintaining its range of different brands and that the Exagroup and Exaprint brands will remain in place and not be rebranded.
Under the terms of the agreement, Cimpress will acquire 70% of Exagroup’s shares for a purchase price of approximately €91.5m (£66m) with an option to acquire the remaining 30% of the shares in 2019 for a price between €39m and €47m, subject to the achievement of financial performance targets for calendar year 2017.
Exagroup’s turnover was approximately €76m in 2014, reflecting year-over-year growth of 17%. The company employs around 160 staff.
Cimpress, which has approximately 5,800 staff worldwide, reported a 2014 turnover of $1.4bn. Its portfolio of brands also includes Albelli, Drukwerkdeal and Pixartprinting among others. The business produces more than 80 million unique products a year.
