Quadient Completes Divestment of Packaging Solutions Business and Production Site, Progressing on Strategy Execution and Industrial Footprint Optimization
Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, announced the successful completion of the transaction for the divestment of its Automated Packaging Solutions (APS) business and production facility based in Drachten, the Netherlands. As previously announced, total consideration from the sale to Standard Investment private equity firm amounts to more than €20 million.
This new milestone of the Company’s strategy contributes to its portfolio streamlining and industrial footprint optimization. The sale of the production facility will allow Quadient to immediately externalize approximately €14 million per year of production costs related to its Mail-Related Solutions business.
The Drachten production site will continue to provide mid-range Document Systems solutions to Quadient for a period of time, while production is gradually transferred from Drachten to other Quadient industrial sites and suppliers, ensuring business continuity. The approximate 240 employees at the Drachten production site will continue with the business post-closing.
Geoffrey Godet, Chief Executive Officer of Quadient, commented: “The successful closing of this transaction marks another important step in our Back to Growth strategy. The resizing of our industrial footprint will help us support the high profitability of our Mail-Related Solutions in the future, and lead to significant cost optimizations over time. We are committed to conducting our activities in a responsible manner, and I am pleased that we found in Standard Investment the best home to support our talented APS and Drachten teams towards a promising future. As both our organizations advance in their new journey, at Quadient we will strengthen our focus on our high–growth solutions, bringing more innovation to market for the benefit of our customers.”