Susanne Klatten Puts $300 Million Into Landa Digital Printing
The deal values the digital printing company at $1.8 billion
Israel-based Landa Digital Printing, a division of Landa Corporation Ltd., has completed a $300 million funding round led by investment company SKion GmbH with participation from existing investor, chemicals company Altana AG, both owned by German businesswoman Susanne Klatten, Landa announced Wednesday. The deal values the digital printing company at $1.8 billion post-funding, founder and CEO Benny Landa said in a phone interview with Calcalist on Wednesday. A serial entrepreneur, Mr. Landa founded Israeli digital press pioneer Indigo, acquired by HP in 2001 for $830 million.
Founded in 2002, eponymous Landa develops industrial digital printing technologies for the commercial, packaging, and publishing markets. The company developed a nanotechnology-based pigment that reduces costs and allows for faster digital printing.
Landa shipped its first printer to a local client last year and a second machine to a German client earlier this year, Mr. Landa said. The company has a backlog of 500 million euros (approximately $583 million) and plans to supply dozens of machines within the next year and hundreds more in the future, he added.
In 2014, it raised 100 million euros (approximately $136 million) from Altana. Together, Altana and Skion now own a 46% stake in the company. According to Mr. Landa, the company raised $700 million so far, out of which $200 million invested from his own pocket.
Based in Rehovot, a town in central Israel, the company employs around 450 people.
It plans to use the funding for expanding production, research and development, and marketing, according to the announcement.
“We want to create more jobs and form a meaningful operation in Israel,” Mr. Landa said.