Cartridge World Announces New Capital Structure for Continued Growth
New Partnership Creates First Integrated Aftermarket Printing Services Company
MCHENRY, Ill. - June 03, 2015 - (BUSINESS WIRE) - Cartridge World, the world’s leading franchisor in the office supply industry, announces that Suzhou GoldenGreen Technologies (SGT) has become a shareholder of the Cartridge World group. SGT is one of the world’s largest manufacturers and suppliers of printer cartridge components to aftermarket cartridge manufacturers and printer manufacturers.
“SGT’s founder and Chairman, Dr. Richard Yu, has built the company into the largest manufacturer in its segment in China and one of the world’s major players in the printer cartridge industry.”
With more than 1,000 locations worldwide, Cartridge World is the largest franchisor in the $80 billion ink, toner, printer and print services industry. This new capital structure allows for re-investment into technology, franchise system growth and product innovation.
SGT’s manufacturing expertise, automation and product innovation will support Cartridge World’s drive to supply high-quality and cost-effective products to its franchisees and customers on a global level. This includes supporting an increasing share of business customers that utilize Cartridge World’s new suite of office printing solutions.
“SGT has been recognized as being at the forefront of robotic manufacturing technology in the imaging industry, as well as supplying high quality OPC drums to original equipment manufacturers (OEM) and aftermarket suppliers,” said Rod Young, Cartridge World’s Global Chairman and CEO. “SGT’s founder and Chairman, Dr. Richard Yu, has built the company into the largest manufacturer in its segment in China and one of the world’s major players in the printer cartridge industry.”
Young said the recapitalization will allow Cartridge World to be on the cutting edge of its industry, noting that SGT recently released industry-leading patented technology and plans to invest in further upstream and downstream manufacturing facilities.
“The combination of SGT’s substantial R&D expertise and manufacturing technology in the imaging industry with Cartridge World’s network of more than 1,000 locations positions us as the world’s only fully integrated aftermarket print services supplier,” added Young.
Dr. Richard Yu commented, “This investment is a strategic long-term decision. We believe in the Cartridge World organization and global brand, and we look forward to working together to inspire all our associates to grow the business moving forward.” He added, “We are excited about our partnership and its true potential. This investment signifies just how dedicated SGT is to the aftermarket and its long term viability.”
About Cartridge World
Cartridge World was launched in the United States in 2003 with a focus on retailing printer cartridges. In 2013, franchisor introduced a new business model that focuses on selling high-efficiency printers that use high-yield printer cartridges, and providing “bundled” printing services and solutions for business customers. Cartridge World franchisees who have adopted the new model are benefitting from larger volume sales and ROI through long-term relationships with business customers.
Cartridge World is the leading ink and toner retailer and franchisor in the $80 billion printer cartridge industry. Stores offer customers a tremendous cost-saving alternative to printing, offering a 30-percent discount over full-priced OEM cartridges and a 100-percent satisfaction guarantee. Cartridge World has more than 1,000 franchised retail locations in over 50 countries. For information about Cartridge World products or franchise opportunities visit CartridgeWorld.com. For the complete FranchiseDirect.com Top 100 Global Franchises ranking report please visit: franchisedirect.com/top100globalfranchises/rankings/.
SOURCE Cartridge World
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