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CEWE acquires shares in leading French photo app specialist

DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Investment

09.02.2018 / 07:00
The issuer is solely responsible for the content of this announcement.

CEWE acquires shares in leading French photo app specialist

- Fast-growing "Cheerz" premium brand for smartphone customers

- Market leader in France for photofinishing apps

- Dynamic increase in sales in France, Spain and Italy

- Synergies in the areas of mobile competence, sales, production and logistics

- Sustained positive effect on the value of the entire company expected

Oldenburg, 9 February 2018. High-growth French market leader for photofinishing apps becomes part of the European market leader in photofinishing: CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901) has agreed on an acquisition of shares with the owners of the Cheerz Group (Paris). The Cheerz Group is growing dynamically in France, Spain and Italy with its "Cheerz" premium brand, targeted mainly at smartphone users. CEWE is initially acquiring around 80 % of the shares in the Cheerz Group for 36 million euros. The transaction estimates the company at around slightly more than one-and-a-half times the expected turnover for 2018. For the time being, the CEWE Board of Management expects the takeover - including the purchase price allocation and the transaction costs - to still have a negative impact on EBIT in an amount of around 4 million euros.

Sustained positive effect on value of the company expected
The CEWE Board of Management expects the acquisition of shares to generate additional growth in mobile business to strengthen business in France and Southern Europe. The Board also expects synergies in the areas of mobile competence, sales, production and logistics. "We are convinced that this investment will have a sustained positive effect on the value of the entire company," says Dr. Christian Friege, Chairman of the Board of Management of CEWE Stiftung & Co. KGaA. " Besides the classical synergies, it was the clear focus on customers, the user-friendly concept, the positioning as a premium brand and the technological know-how of the strong, entrepreneurial management that convinced us. We intend to maintain this positive culture and these skills. Cheerz stands for an impressive idea: getting a cool product quickly!" Dr. Friege continues. Aurelien de Meaux and Antoine Le Conte, Cheerz founders, add: "We are delighted to have found a partner in CEWE who stands for the highest product quality and scalability, thus being in a position to give maximum support to our dynamic growth in France and Southern Europe. "We wish to grow into a new dimension with a real European champion - quickly, easily and directly. This is what we are. For us it was important that CEWE appreciated out corporate culture and wished to maintain it. A perfect match!"

Should you have any queries, please contact:
CEWE Stiftung & Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, Email:

Internet: , , , , ,

The CEWE apps are all available in the app stores: CEWE PHOTO WORLD, CEWE POSTCARD, CEWE PURE and other photo apps, and the CEWE Investor Relations app for iPad(c) or android tablets, with annual reports and quarterly reports, presentations and sustainability reports.

Financial schedule:
(insofar as already scheduled)

22.03.2018 2017 Annual Report
22.03.2018 2018 CEWE press conference
22.03.2018 2018 CEWE analysts' conference
22.03.2018 Press release on the 2017 annual financial report and an outlook on 2018
19.04.2018 2018 Bankhaus Lampe Deutschland Conference
14.05.2018 Publication of the 2018 Q1 interim report
14.05.2018 Press release on the 2018 Q1 interim report
06.06.2018 2018 Annual General Meeting
09.08.2018 Publication of the 2018 Q2 interim report
09.08.2018 Press release on the 2018 Q2 interim report
24.09.2018 2018 Berenberg & Goldman Sachs German Corporate Conference
25.09.2018 2018 Baader Investment Conference
13.11.2018 Publication of the 2018 Q3
13.11.2018 Press release on the 2018 Q3 interim report
26.11.2018 2018 German Equity Forum

About CEWE: The innovative photo and online print service company, with twelve highly-technical production operations and a staff of around 3,500 employees in 24 European countries, is both market and technological leader. In 2016 CEWE delivered around 2.2 billion prints, 6.2 million CEWE PHOTO BOOK copies and numerous photo gift articles to more than 20,000 retail partners to generate consolidated turnover of 593.1 million euros. The company is continuously generating new impulses in the photographic industry with innovations for people who enjoy taking photos. CEWE is a leading company when it comes to climate protection. The production of CEWE PHOTO WORLD brand products is completely climate-neutral. In the new business segment of "Commercial online printing", printed material for businesses is marketed through the sales platforms of, SAXOPRINT and viaprinto. Founded by Senator h. c. Heinz Neumüller in 1961, CEWE has been listed on the stock exchange since 1993 and is currently an SDAX member.

09.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ihr Ansprechpartner für Investor Relations

Axel Weber
Leiter Investor Relations,
Planung & Reporting

Telefon: +49 (0) 441 404-2288
Fax: +49 (0) 441 404-421

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CEWE Stiftung & Co. KGaA
Meerweg 30-32
26133 Oldenburg

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