ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Vitec Has Agreed to Acquire Savage Universal, a Global Market Leader in Backgrounds for the Growing Professional Studio Photographic Market

November 16, 2021 GMT

CASSOLA, Italy--(BUSINESS WIRE)--Nov 16, 2021--

Vitec Imaging Solutions, a Division of The Vitec Group plc (“Vitec”), the international provider of premium branded hardware products and software solutions to the growing content creation market, is pleased to announce that on 16th November 2021 it agreed to acquire Savage Universal Corp and its affiliates, with the deal expected to close by the end of November 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211116006141/en/

(Photo: Business Wire)

Savage is a global market leader in backgrounds for the professional studio photographic market, based in Phoenix, US. Trusted by creative professionals since 1937, Savage manufactures an extensive range of high quality, specialist, seamless paper backgrounds, or backdrops, ensuring the essential flat, crease-free background surface.

ADVERTISEMENT

Backgrounds are the largest consumable products in the commercial photography market. An essential tool in every professional studio, they’re quick and easy to set up, and enable photographers to dramatically reduce post-production time, by achieving the desired look directly from camera. For more than 80 years, Savage has led this category offering an extensive range which covers all possible applications and colours.

In the post-pandemic digital era, professional studio photography has dramatically expanded, led by the growth of e-commerce sales; 90% of online buyers report that image quality is the most important factor in the decision-making process.

Savage directly serves this fast-growing market segment, as well as fulfilling the demand from vloggers and influencers for easy-to-set-up backgrounds for their TikTok or YouTube videos.

Marco Pezzana, Divisional CEO of Vitec Imaging Solutions commented:“Savage backgrounds complement Vitec’s existing portfolio of accessories for professional image creators. This acquisition brings together the world’s leading supports and imaging accessories provider with the world’s leading backgrounds manufacturer, serving professional photographers, creators and vloggers with the best in class studio equipment.”

ADVERTISEMENT

Hayward Richard Pressman, Chairman of the Board of Savage Universal Corp commented:“We have had a long and successful relationship with Vitec and know them very well. They share our business values and, as we have, always made the customer the focus of their business. The Savage tradition of offering innovative and quality accessory products supplied promptly and complete will continue. Our Company recently celebrated its 84th year in business. I must express my gratitude to all who have taken this journey with us and thank you for being our partner and bringing us to this point.”

A snapshot of The Vitec Group plc

Vitec is a leading global provider of premium branded hardware products and software solutions to the growing content creation market. Vitec’s customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, gamers and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, bags and motion control, audio capture and noise reduction equipment.

We employ around 1,800 people across the world in 11 different countries and are organised in three Divisions: Imaging Solutions, Production Solutions and Creative Solutions. The Vitec Group plc is listed on the London Stock Exchange.

More information can be found at: www.vitecgroup.com

Vitec Imaging Solutions

Vitec Imaging Solutions is a division of the Vitec Group, an international group principally serving customers in the broadcast and photographic markets. Vitec Imaging Solutions designs, manufactures and distributes premium branded photographic and video equipment such as tripods, bags, filters and lights for professional and hobbyist photographers, and content creators. The portfolio includes nine premium brands - Manfrotto, Gitzo, JOBY, Colorama, Savage, Avenger, Lowepro, Syrp and Rycote - that positions Vitec Imaging Solutions as the leading global provider of accessories within the fast-growing imaging market. Thanks to Vitec Imaging Distribution, all the products are directly distributed in 11 markets across the world and in many others thanks to a qualified network of retail partners.

Savage Universal

From its beginning in 1937 as a manufacturer of quality board and paper products, Savage has provided photographers the essential elements for success. Family-run from the start, Savage has a commitment to quality and innovation that defined the company in the beginning and continues to define it today. Products such as photographic backgrounds continue to be a key focus of Savage’s manufacturing efforts, but there’s much more to the Savage story. The company continues to develop innovative products, especially in the digital arena, to meet the needs of today’s more diverse photography community – professionals and semi-professionals alike. All paper is FSC (Forest Stewardship Council) certified and 100% recyclable and Savage’s main paper mill supplier is net zero on electricity, having its own hydroelectric dam which covers all of its electricity requirements. In 2019, Savage acquired Superior Specialties Inc., which continues to trade under the name of Superior Paper Specialties, LLC.

More information can be found at: www.savageuniversal.com and www.superspec.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20211116006141/en/

CONTACT: Dan Turk -danielturk@maxborgesagency.com

(516) 445-5261Vitec Imaging Solutions Spa

T +39 (0424) 555 855

F +39 (0424) 808 999

imaging@vitecgroup.com

www.vitecimagingsolutions.com

KEYWORD: ARIZONA EUROPE UNITED STATES ITALY NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY PHOTOGRAPHY AUDIO/VIDEO SOCIAL MEDIA MANUFACTURING BLOGGING PUBLISHING FOREST PRODUCTS MARKETING ADVERTISING COMMUNICATIONS NATURAL RESOURCES OTHER MANUFACTURING CONSUMER ELECTRONICS

SOURCE: The Vitec Group plc

Copyright Business Wire 2021.

PUB: 11/16/2021 12:00 PM/DISC: 11/16/2021 12:01 PM

http://www.businesswire.com/news/home/20211116006141/en