Diversified group IVE has officially completed its acquisition with catalogue outfits AIW Printing and Franklin Web, the three companies now a single entity under the IVE umbrella as of today.
IVE has acquired the pair of catalogue powerhouses for a combined total of $116m, a deal which will see IVE own the assets of Franklin Web and 100 per cent of AIW shares.
The company will now begin the reorganisation of the business, which will see AIW move into the Franklin Web business and Blue Star’s Victoria retail display business move into Franklin Web’s own display print operation. Former Franklin owner Phil Taylor is staying with the business.
[Related: IVE to acquire Franklin Web and AIW]
IVE – which comprises internal divisions Blue Star, Kalido, IVEO and Pareto – revealed its intention to buy AIW and Franklin Web only last week. The route to completion was smooth sailing after consumer watchdog the ACCC flagged no intention to review the merger and majority investor approval.
Finalisation of the mega-merger approached far more rapidly than fellow print giants PMP and IPMG’s proposed deal. The acquisition is set to go under the microscope this Friday at PMP’s Extraordinary General Meeting (EGM) and is still under review by the ACCC.
IVE has embarked on strong acquisition trail this year, subsidiary Blue Star ending 2016 with the purchase of Sydney digital printer Display Bay. This year alone Blue Star has acquired Fineline Printing, The Mailing House, Frost Merchandising and LCS Connect and invested $12m in heatset kit for its Web division.
IVE Shares closed at $2.055 the day of the news, reopening $2.140 in a 3.9 per cent jump and fell slightly to $2.10 today.
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