Videndum acquires Savage
Based in Phoenix, US, Savage is a global market leader in backgrounds for the professional studio photographic market. Trusted by creative professionals, Savage manufactures an extensive range of high quality, specialist, seamless paper backgrounds, or backdrops. Backgrounds are a key aspect of imaging production as they are the quickest and easiest way to achieve the desired look for commercial and product photography, portraits, video interviews and social media posts, and they dramatically reduce post-production time. Despite advances in technology, we believe that backgrounds will remain the preferred solution for the foreseeable future.
We know the market and the Savage business extremely well; Videndum's existing Imaging Solutions professional studio photography customers already buy backgrounds and these will be found alongside many of the Group's brands in most photographic studios and rental houses. c.65% of Savage's current revenue is in the US, where they sell direct to retail and c.35% is sold internationally to distributors, with c.40% of that business being distributed in continental Europe and the UK by Videndum Imaging Solutions under our Colorama brand.
Savage will become part of Videndum's Imaging Solutions Division. The business has 85 permanent employees. The COO Rich Reiser will join Videndum while the Chairman and CEO will leave the business at closing of the transaction.