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- Release Date: 02/07/12 13:10
- Summary: ASSET: FRE: Freightways acquires Dataprint
- Price Sensitive: No
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FRE
02/07/2012 11:10
ASSET
REL: 1110 HRS Freightways Limited
ASSET: FRE: Freightways acquires Dataprint
Freightways Limited (Freightways) announces that it has agreed to purchase
the business and assets of Dataprint NZ Limited (Dataprint), effective from 1
July 2012.
Dataprint is a full service mailhouse that provides its customers with both
physical and digital solutions for their transactional and marketing mail.
These services are complementary to the existing suite of mail services
already offered by Freightways' DX Mail business. Dataprint will operate as a
stand-alone business alongside DX Mail. It is expected that customers of
Dataprint, DX Mail and the wider Freightways group will all benefit from the
expanded service offering.
The initial purchase price paid for Dataprint is $3 million, with a further
$3.5 million payable over a three year period, subject to performance targets
being achieved. Forecast revenue of $6 million and EBITDA of $1 million, are
expected to be generated in the first full year of Freightways' ownership.
This acquisition is expected to be immediately earnings per share (EPS)
positive and it will be fully debt-funded from headroom available in
Freightways' existing finance facilities.
Freightways operates in the express package, business mail and information
management markets. The acquisition of Dataprint is consistent with
Freightways' strategy to develop growth opportunities that complement its
existing operations.
For further information please contact:
Dean Bracewell
Managing Director
Freightways Limited
Ph: (09) 571 9672
Fax: (09) 571 9671
End CA:00224517 For:FRE Type:ASSET Time:2012-07-02 11:10:34
