Landa granted two-week reprieve to shore up financial position

GaryPageau
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Israeli tech site CTech by Calcalist reports beleaguered printer equipment manufacturer Landa Digital Printing may be going back to a familiar source in its bid to restore its financial footing. The company, which has filed for protection because it couldn’t service $516 million in debt, may turn to HP to acquire Benny Landa’s digital printing company. Calcalist has learned that the multinational company hired senior professionals who have entered the company’s data rooms, which were opened by Landa Digital Printing for potential buyers. As most printing industry veterans know, Benny Landa sold the Indigo printing platform to HP for approximately $882 million in HP stock and cash. Landa reportedly used $220 million from the proceeds of that sale to launch Lambda Digital Printing.

CTech added, on July 10, the Israeli Central District Court has given Benny Landa until the end of August to find a possible buyer or new investors to create a potential settlement with its secured creditors.

According to CTech: “Landa Digital Printing has hired the Japanese investment bank Nomura to oversee the sale process. Nomura opened the data room, and additional global printing giants have accessed it and expressed interest in acquiring the company. These include Canon, Agfa, Fujifilm, Epson, Xerox, Brother, and Koenig & Bauer.” More than $1.3 billion has been invested in Landa Digital Printing since its inception. Benny Landa remains the company’s largest shareholder with a 36.7% ownership stake, followed by Altana (28.9%), SKion (16.4%), Winder (10%), Landa Labs (4.6%), and the company’s employees (3.1%), according to Printing Impressions.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.