Agfa Graphics has reached an agreement to acquire most of the assets of Gandi Innovations Holdings LLC’s North American operations and the shares of its principal foreign subsidiaries.
Since May 2009, Gandi Innovations has been operating under CCAA protection in Canada and Chapter 15 in the United States. The acquisition is subject to regulatory and court approval and the successful closing of the transaction. The price of the transaction is not being disclosed, but it will have no major impact on Agfa’s financial debt.
Over the period 2001–2009, Gandi Innovations has created a large installed base of inkjet printing engines, reaching a sales peak of $127 million in 2008. Sales in 2009 have strongly suffered from the economic crisis and the uncertainty surrounding the company.
Gandi Innovations was founded in 2001 and has its headquarters and its production facilities in Mississauga, Canada. The Group employs 256 staff and operates worldwide through sales offices and distributors.