COMPANY PRESS RELEASE: Seat PG has acquired from the Beisheim Holding Switzerland, a sister company to the Metro Group, the Pan-Adress GmbH company, one of the leading German companies in the Direct Marketing sector.
Founded in 1962 and based in Munich, Pan-Adress offers a broad range of products and services as well as sound experience in mailing list management, based on data bases of some 34 million addresses, 30 million of which are consumers.
Pan-Adress has also built strong ties with its many customers, mainly in the financial, pharmaceutical, telecommunications, and energy sectors.
In 2000, Pan-Adress recorded a turnover of 30.6 million euro, with an EBIT of some 0.5 million euro.
Breaking into the German market will further strengthen the Seat PG Group's presence in the information marketing sector, where it is already present through its French subsidiary, Consodata which operates in France, Great Britain, Spain, Italy, and Belgium and the American NetCreations, leader in the USA for Internet marketing services through the e-mail. The acquisition of Pan-Adress by the Seat Group is part of a larger strategic plan aimed at making the Group a leader on an international level.
The acquisition of the entire share capital of Pan-Adress for a total price of 20.5 million euro (40 million DM) came about in exchange for 1,084,912 Consodata shares owned by Seat PG.