Mon, 04 Jun 2018 | BUSINESS SALE
The company responsible for printing Vogue and The Economist has been put up for sale by Walstead, which controls the firm, despite a successful year expanding into Europe.
According to chairman Mark Scanlon, the group is working with Rothschilds alongside controlling shareholder Rutland Partners in preparation for the sale of the company, which has been valued between £300-£400 million.
"Our senior management team is committed to our long-term plan to lead the consolidation of the European printing industry," said Scanlon.
"So that we can exploit the many M&A opportunities we are being presented with, we have appointed NM Rothschild to advise us on a range of financing options which would provide us with even greater capital resources to follow through on these plans."
Commenting on the recent successes of the firm, Scanlon highlighted that Walstead has been rapidly growing across Europe in the past three years, expanding its presence across the UK, Czech Republic, Spain, Slovenia and Austria, as well investing across other European territories.
Rutland Partners, which will profit significantly from the sale, took a majority stake in the printing company two years ago, investing £33 million to gain a 53 per cent stake in the firm.
However, it wouldn't be the first financial success for the firm this year. Rutland recently sold the British Pizza Hut franchise for more than £100 million after purchasing it in 2012 for just £1 from Yum Brands. Since then, the private equity backer has invested £60 million to restoring the restaurant chain.
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