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Pollard Banknote buys Schafer Systems

Winnipeg-based Pollard Banknote has acquired Schafer Systems of Adair, IA, a company specializing in the sale of lottery ticket dispensers, lottery stations and point-of-purchase displays. The 30-year-old company has approximately 50 employees. The purchase price is US$23.5 million.

"We look forward to providing lotteries the same great service and innovative retail products they are used to receiving from Schafer and, in combination with the resources available in Pollard, expanding Schafer's reach to new geographic and technological opportunities," said Doug Pollard, co-chief executive officer at Pollard. "The Schafer retail knowledge base will fit extremely well in the Pollard portfolio of tools available to our lottery customers and assist us greatly in maximizing growth at the retail level."

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