Ricoh expands Sweden offering with proposed Carl Lamm Holding acquisition
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This announcement does not constitute the formal announcement of a public offer in accordance with section II.3 of the Swedish takeover rules issued by NASDAQ OMX Nordic Exchange.
This announcement does not constitute an offer to purchase any securities nor is it calculated to invite any such offer or invitation. In particular, this announcement is not an offer to purchase any securities in Australia, Canada, Japan, New Zealand, South Africa, the United States of America or Hong Kong. Any public offering to purchase securities would be made by means of the formal announcement under the Swedish takeover rules and an offer document that would contain detailed information about the offer.
UK, London, 17 April 2009 - Ricoh Europe Holdings PLC ("Ricoh") today announced a recommended cash offer to the shareholders in Carl Lamm Holding AB (publ) ("Carl Lamm"), an exclusive distributor of a range of Ricoh branded products in Sweden and nationwide supplier of IT solutions, listed on NASDAQ OMX Nordic Exchange. The proposed acquisition of Carl Lamm closely aligns with Ricoh's vision to be the leading global solution provider in the document management industry and would enable both companies to expand upon their extensive expertise to provide enhanced services and offerings to customers in Sweden.
Ricoh and Carl Lamm already have a longstanding and successful business relationship spanning over several decades with more than 50 per cent of Carl Lamm sales generated from Ricoh products and solutions.
Following a successful acquisition, the combination of Ricoh's global infrastructure, portfolio and experience, with Carl Lamm's expertise in sales and services, would provide customers in Sweden with an extensive distribution network and unique service capabilities. Stakeholders and employees would also benefit from the increased knowledge sharing and best practice of the two companies.
For customers and employees, it remains business as usual and Ricoh's successful "multi brand, multi channel strategy", will continue to apply. This will allow Ricoh to maximise its market place flexibility, presence and responsiveness.
The proposed acquisition provides the two companies with a strong platform to extend their partnership and to create a successful post acquisition relationship. Ricoh has a successful history of mergers and acquisitions which have contributed to its growth. Ricoh believes the strategic and operational fit between the two companies will also provide a unique partnership to grow the business in Sweden and the wider Nordic region.
Simon Sasaki, Chairman and CEO, Ricoh Europe Holdings PLC, says "Carl Lamm is highly respected for its sales and service expertise in Sweden. It is an important market for Ricoh with many valued customers. We believe the acquisition will enable us to strengthen our offerings and be even more responsive to our client needs. We are excited by the prospect of adding the very experienced Carl Lamm management team and the skilled and dedicated Carl Lamm employees to the Ricoh Group."
With the longstanding relationship; the successful base of Ricoh knowledge within Carl Lamm Holding; the support of 68.1% of shareholders through irrevocable undertakings and the unanimous recommendation from the Board of Carl Lamm Holding, Ricoh believes that it is uniquely placed to acquire Carl Lamm Holding.
The formal announcement of the public offer to the holders of securities in Carl Lamm in accordance with section II.3 of the Swedish takeover rules issued by NASDAQ OMX Nordic Exchange can be downloaded from: www.ricoh.se
Carl Lamm Holding is established within Sweden as an IT solutions provider and recognised for its extensive range of Ricoh offerings. Carl Lamm Holding has a nationwide presence in Sweden with 36 locations, of which 26 are wholly owned branch offices and about 530 employees.
Note to Editors
Ricoh Europe Holdings PLC is the EMEA Headquarters of Ricoh Company, Ltd. ("Ricoh Company"), a global technology leader, specialising in the office and production printing markets. Ricoh Company's EMEA headquarters are located in London, United Kingdom and Amstelveen, the Netherlands. Ricoh's EMEA operations comprise 35 sales subsidiaries and affiliates. In the financial year ended 31 March 2008, revenues from Ricoh's EMEA operations totalled over YEN 603.2 billion (USD 6 billion) accounting for 27.2 per cent of Ricoh Company's global revenues. In the year ended 31 March 2008 Ricoh's worldwide sales increased by 7.3% totalling YEN 2,219.9 billion (USD 22.2 billion).
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Ricoh Europe Holdings PLC
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