VantagePoint enters folding carton market with strategic acquisition
management software for the corrugated packaging industry, has
entered into an agreement to acquire Avalon Printing Software of
Leicester, UK.
VantagePoint Systems, a Canadian-based developer of business management software for the corrugated packaging industry, has entered into an agreement to acquire Avalon Printing Software of Leicester, UK.
Avalon develops and markets business management software for the folding carton, flexible packaging, and label industries, including advanced estimating and scheduling software. Founded in 1999, Avalon's software solutions operate in over 30 manufacturing plants worldwide. Avalon's customers include Smurfit-Stone, International Paper, Carter Holt Harvey, Hub Folding Box, and Los Angeles Paper Box. Avalon reported C$1.3 million (€915,000) revenues for fiscal 2001.
"The acquisition of Avalon is a strategic move for VantagePoint," said Jim Hennings, chairman and CEO at VantagePoint. "It instantly provides us with a European presence via the UK-based development and customer support centre, and business office. It enables us to rapidly enter the US $100 billion folding carton and flexible packaging market through the acquisition of existing software. Finally, the acquisition provides VantagePoint with an increased customer base and team of software professionals with extensive packaging industry expertise."
Avalon will operate as a wholly owned subsidiary of VantagePoint Systems. VantagePoint will continue operating from Avalon's current facilities in Leicester. Andrew Armitage, founder, president and CEO of Avalon, will head the newly-established retail packaging division within VantagePoint, and all current staff will be retained.
"Avalon's proven software solutions for retail and consumer packaging will naturally complement VantagePoint's software solutions for corrugated container manufacturers," said Andrew Armitage, president and CEO of Avalon. "VantagePoint has North American presence while Avalon has European presence. Together, our combined software and professional services offerings will allow us to implement advanced global software solutions for virtually any packaging manufacturing operation."
VantagePoint develops and markets business management software designed specifically for multi-plant packaging manufacturing companies.
