• Cimpress is managing to extract value for shareholders in what’s normally a fairly low growth business.
• It does this through an acquisition strategy that buys cheap and extracts value, resulting in large cash flows.
• These are used to bring back leverage quickly and buying back shares, the number of which is on a considerable downward path.
• This is a well-managed company, in our view.

Source: Cimpress Impresses – Cimpress N.V. (NASDAQ:CMPR) | Seeking Alpha