Fuji Photo Film Co., Ltd. announced Dec. 26 that it has acquired the Avecia Group's Inkjet business, headquartered in Manchester, England, a leading global player in production and sales of dyes and inks for inkjet printers. The purchase price is 150 million pounds sterling ($258.5 million), and the transaction is expected to complete in February 2006.
Avecia's inkjet business had nearly $121.5 million in sales in 2005, and employs approximately 340 people. It has manufacturing plants in the U.S. and UK, and a research center n the UK.
Fujifilm has been actively expanding its business through M&As, such as the purchase of the Microelectronic Material division of U.S.-based Arch Chemicals, Inc. and the acquisition of U.K.-based Sericol Group Limited, expanding its semiconductor processing materials business and printing business. The acquisition of Avecia is an integral part of this growth strategy.