CEWE to Acquire Kodak Moments for About EUR88 Million

M&A · PartnershipEarnings

โดย GuruFocus·

Summary · why it matters

CEWE Stiftung & Co KGaA announced the acquisition of Kodak Moments, the global instant photo business of Kodak Alaris, for an enterprise value of approximately EUR88 million with expected cash out of a little over EUR70 million. The deal expands CEWE's footprint into the US, Mexico, Canada, and Australia, adding about EUR200 million in turnover, 16,000 points of sale, 37,000 connected photo stations, and roughly 1.5 billion prints annually. The acquisition includes about 400 patents and a production facility in Windsor, Colorado, enabling vertical integration of thermal media production and reducing dependency on Asian suppliers. CEWE also confirmed its 2026 guidance with revenue between EUR782 million and EUR810 million, and reported Q2 photofinishing revenue growth of 6% despite transaction costs and higher material, logistics, and personnel expenses. The sale of its Commercial Online Print division to Cimpress closed on July 2, 2026, with positive effects expected in Q3 results.