IVE Group Limited (ASX:IGL) and Australian Community Media (ACM) have signed a five-year contract worth $100 million for IVE to print and distribute publications currently published and managed by ACM.
To support ACM’s requirements, and further enhance service to IVE’s customers, IVE is also acquiring ACM’s Western Australian printing operation in Mandurah, which will serve as the first Western Australian print site for the former.
Leveraging more than 200 years of experience and heritage across both organisations, the partnership will allow ACM to focus on content development across its media brands, new product launches and entry into new markets, all underpinned by one of the largest marketing production and distribution businesses in Australia.
The news comes a week after IVE announced it had sold its telefundraising business, formerly known as Pareto Phone, for $16.5 million to an entity associated with Merchant Place Investments Pty Ltd.
IVE CEO Matt Aitken said: “With over 170 publications nationwide we are proud to support ACM’s media brands in connecting with millions of Australians every day.
“We are excited by ACM’s growth plans and believe IVE’s diverse product and service offering is key to ACM unlocking further strategic value in their business.”
The move follows ACM’s agreement with News Corp Australia and Nine Entertainment Group (formerly Fairfax) to utilise each other’s printing networks.
At the time of the agreement, ACM also confirmed the closure of three of its four print sites – with Canberra and Murray Bridge closing effective 28 August and Ballarat closing effective 2 October – as ACM moves to print its material and Nine’s at News Corp’s facilities.
The announcement also follows Spotpress and ACM at North Richmond gaining the work that popped up as a result of News Corp Australia’s shift to digital in regional areas.
ACM executive chairman Antony Catalano said, “We are delighted to partner with IVE which has a long and successful history of delivering on complex production and distribution challenges.
“ACM is evolving as a business and we’re looking for ways to streamline our operations to allow us to focus on what we do best; creating and delivering great content. We look forward to working with IVE as we continue that journey.”
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at [email protected]
Sign up to the Sprinter newsletter