AgfaPhoto
German consumer imaging company
From Wikipedia, the free encyclopedia
AgfaPhoto GmbH is a European photographic company, formed in 2004, when Agfa-Gevaert sold their Consumer Imaging division. Agfa (the former parent company, which merged with film manufacturer Gevaert in 1964) had for many years been well known as a producer of consumer-oriented photographic products including films, photographic papers and cameras. However, within a year of the sell-off, AgfaPhoto had filed for bankruptcy.[1]
 | |
| Formerly | Agfa Consumer Imaging |
|---|---|
| Type | Private |
| Industry | Consumer Imaging |
| Founded | September 2004 |
| Headquarters | Leverkusen, Cologne, Germany |
Area served | Worldwide |
Key people | Andreas Selmeczi |
| Products | Electric batteries, photographic paper, digital photo frames, digital cameras, memory cards, scanners, video cameras |
| Website | agfaphoto.com |
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The various product brands are now being licensed to various companies by the holding firm AgfaPhoto Holding GmbH. Minilab service and chemicals are e.g. now sold by A&O Imaging Solutions, and AgfaPhoto Vista Brand Film is sold by Lupus Imaging & Media.
Management buyout
In 2004, Agfa-Gevaert announced that it had reached a definitive agreement to divest the whole of its Consumer Imaging business in a management buyout for a purchase price of €175.5 million.[2] The divestment covered the whole of its Consumer Imaging business, including film, finishing products, and lab equipment, grouped in a new company, AgfaPhoto GmbH, as well as the related lease portfolio. The targeted closing date of the transaction was November 1, 2004.[3]
The transaction resulted in a non-cash book loss to Agfa-Gevaert of €430 million,[4] but was cash positive to the extent of €260 million. While the trading environment for both HealthCare and Graphic System divisions improved considerably, the group's half year results were heavily affected by the expected book loss on the divestiture of Consumer Imaging.[5]
AgfaPhoto Holding GmbH
AgfaPhoto Holding GmbH, headquartered in Leverkusen and Cologne, Germany, operates internationally in the consumer imaging sector. Based on a long-term trademark agreement with Agfa-Gevaert, the company grants sub-licenses for the AgfaPhoto trademark and red dot logo to various third-party manufacturers of products in the imaging sector.[6]