American Banknote Acquires Arthur Blank & Company
Fort Lee, NJ—May 9, 2007—American Banknote Corporation, parent of the ABnote Group, announced today that it has acquired Arthur Blank & Company of Boston for an undisclosed amount of cash and stock. The acquisition of Arthur Blank & Co., one of North America’s oldest and largest plastic card companies, nearly doubles ABnote’s U.S. operations, and provides the world-wide ABnote Group access to Arthur Blank’s rich set of capabilities, high volume capacity and intellectual property, along with the ability to offer new products throughout the six continents that it serves. In addition, ABnote announced that Stuart and Eric Blank, long recognized as major leaders in the industry, will assume responsibility for ABnote’s entire North American plastic card operations, including the ongoing management of Arthur Blank’s existing operations.
As a result of the transaction, Arthur Blank will gain immediate access to a wide range of new customers, and will supplement its existing product line through ABN’s Visa/Mastercard certified facilities, and through its complimentary secure printing, warehousing and total fulfillment services.
“We are more than thrilled to be able to acquire a company of the quality, experience and reputation of Arthur Blank,” stated Steven Singer, Chairman and Chief Executive of American Banknote Corporation. “Our complimentary businesses will provide both companies’ global customers with a broader product mix, terrific synergies and unparalleled disaster recovery capabilities. The combination also represents an opportunity for two recognized industry leaders, with combined sales of more than 2 billion cards, to learn from one another, and adopt one another’s best practices, cementing our ability to provide the highest quality products at the most competitive prices.
According to Stuart Blank, President of Arthur Blank and, now, President of ABnote’s combined North American Cards Division, “Arthur Blank is a great company. But as part of American Banknote, we’re going to be exceptional.” Mr. Blank added, “The ABnote Group is one of the world’s largest secure document, systems, and fulfillment companies. They have a remarkable history, and they give us immediate entree into a range of new markets and customers, both in the U.S. and abroad. What’s more, we’ll now be able to leverage all of the vast capabilities of the ABnote Group to deliver our customers an even more robust set of products associated with our cards.”