PRIMA PRINT TO ACQUIRE PMI IMAGEWORKS

Prima Printing is set to acquire PMI Imageworks, a move that will bring together two successful Melbourne-based personalisation and print-on-demand businesses, and two of the biggest in the country.

Prima will buy 100 per cent of PMI, with the deal expected to close on Monday. The two businesses will initially continue to operate independently, although with close collaboration, as they work through the Christmas peak.

Prima has some 65 staff, PMI around 60. PMI was established by its CEO Chris Zapris a decade ago, while Prima was established here in 2016. Both have established themselves as industry leaders, producing hundreds of personalised products.

Prima is part of the global District Photo group of companies, based in the US, which together with Harrier LLC, based in the UK, forms one of the world’s largest digital print fulfilment companies.

Chris Hughes, president and CEO of District Photo 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.”

Chris 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.”

Prima has become the largest print on demand fulfiller in Australia. Running a large fleet of digital, dye sublimation, DTG and eco-solvent printers and finishing infrastructure, Prima produces millions of units across its 450-product range for global brands in runs as small as one unit. PMI Imageworks is based in Brunswick and has a broader range of products than Prima, and more variability within its product range. The business is a market leader in personalised wall art, art prints and home décor as well as producing photobooks, cards and gifts.

Amnon Judah, managing director of Prima Printing, commented, "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.”

Hughes said, “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.”