Eastman Kodak Company, currently in a Chapter 11 bankruptcy reorganization, has initiated sale processes for its Personalized Imaging and Document Imaging businesses. Kodak has indicated that it would move forward as quickly as possible on the sale of the two businesses and has targeted completing these transactions in the first half of 2013. Lazard has bee engaged by Kodak as its adviser in the sale process.
“Personalized Imaging and Document Imaging are valuable businesses that enjoy leading market positions as a result of superior products and service offerings,” said Antonio Perez, Chairman and Chief Executive Officer.
The Personalized Imaging business consists of Retail Systems Solutions (RSS), Paper & Output Systems (P&OS) and Event Imaging Solutions (EIS). RSS is a leader in retail print solutions with a global footprint of 105,000 KODAK Picture Kiosks; P&OS includes a portfolio of traditional photographic paper and still camera film products; and EIS provides souvenir photo products at theme parks and other venues. The Document Imaging business provides a portfolio of scanners, capture software and services to enterprise customers.
“The initiation of a process to sell the Personalized Imaging and Document Imaging businesses is an important step in our company’s reorganization to focus our business on the commercial markets and enable Kodak to accelerate its momentum toward emergence from bankruptcy,” said Mr. Perez. “We are reshaping Kodak. We continue to rebalance our company toward commercial, packaging and functional printing – in which we have the broadest portfolio solutions – and enterprise services. These businesses have substantial long-term growth prospects worldwide and are core to the future of Kodak.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 8-24-12