Ricoh Europe B.V. to acquire European operations of Danka Business Systems PLC
Tokyo - October 12, 2006 - Ricoh Company, Ltd. (CEO: Masamitsu Sakurai) today announced that its subsidiary Ricoh Europe B.V. ("REBV", 100% owned by Ricoh Co., Ltd.) has entered into a Share Purchase Agreement (the "Agreement") with Danka Business Systems PLC ("Danka", office equipment sales/service company) to acquire Danka’s European operations (the "Transaction").
By this Transaction, the Ricoh Group can strengthen its sales and service force in major countries in Europe. Ricoh and Danka strongly believe the Transaction will result in better service to the customers and higher customer satisfaction.
<Transaction profile>
|
Content of agreement |
REBV will acquire 100% share of Danka’s European operating and holding companies (total 16 companies). |
| Expected purchase price |
US$210 million (approximately 24.0 billion Yen) |
| Share transfer date |
December 31, 2006 (subject to change) |
< Danka: European operations profile >
|
Business |
Sales and service of office equipment such as copiers, printers and fax machines. |
| Net sales |
Approximately US$520 million (fiscal year ended March 2006) |
| Countries of operation |
UK, Germany, France, Italy, Spain, the Netherlands, Austria,
Belgium, Switzerland, Denmark, Norway, Sweden
|
| Number of employees |
Approximately 2,300 |
< Danka Business Systems PLC, company profile >
|
Company name |
Danka Business Systems PLC |
| Headquarters address |
11101 Roosevelt Blvd., St. Petersburg, FL33716, U.S.A. |
| Chairman and CEO |
A. D. Frazier |
| Year of incorporation |
1977 |
| Net Sales |
Approximately US$1,095 million (consolidated, fiscal year ended March 2006) |
< Ricoh Europe B.V., company profile >
|
Company name |
Ricoh Europe B.V. |
| Headquarters address |
Prof. W.H. Keesomlaan 1, 1183 DJ Amstelveen, The Netherlands |
| Chairman |
Shiroh Sasaki |
| Year of incorporation |
1971 |
| Business |
Sales and service of office equipment such as copiers, printers and fax machines in Europe, Middle East and Africa. |
| Net sales |
438.7 billion Yen (Ricoh European region consolidate, fiscal year
ended March 2006)
|
< Influence on business results >
Influence on FY2007 Ricoh consolidated results is not expected to be significant.
Contact:
Masakuni Kutsuwada, General Manager
Ricoh Company, Ltd.
+81-3-6278-5228
koho@ricoh.co.jp
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