Opus had already signed a strategic partnership with COS in January this year to open up lower-cost long-run work, albeit with longer lead times.
Opus chief executive Cliff Brigstocke (pictured) told ProPrint that an acquisition of COS was always part of the long-term plan, but that the company had “wanted to explore it more carefully”.
“What we’ve found with a lot of our acquisitions is that we’ve started working with them and we’ve gotten a better understanding of their management team and the value proposition,” he said.
“In this case, we had committed to providing our customers with an offshore solution, and when we started working with them we found there were a lot of parallels with the group, particularly with Ligare and Canprint. So the closer we got, the more we thought maybe we should join forces more formally.”
Brigstocke said the acquisition wouldn’t initially change a lot at either business, but that it will give the group access to greater capacity and boost its ambition to provide a “regional print solution”.
“We’ll have a higher priority within their business to schedule and share work,” he said.
“We’ll be able to offer our clients in Asia, the UK, the USA and Australia several options of where we print, and give them a full menu of options to deliver on their price requirements and time deadlines.”
Brigstocke emphasised that COS would remain a standalone business with the same management team, and that no cuts would be made at COS or elsewhere in the group as a result of the acquisition.
“The one thing we always do is ensure our major brands run by themselves. They’re going to remain doing what they do, because they’re an exceptional business,” he said.
COS was founded by Alfred Ang in 1972 and employs 80 staff. It exports more than half its production to customers in Europe, Britain and the United States. Brigstocke said that the offset and digital printer had a turnover of roughly NZ$20m.
Ang will join the board of Opus, as well as becoming a shareholder in the group.
“For COS this is an exciting opportunity to join a group with an already established leadership position in the industry and a clear vision for creating further value for all stakeholders from a commitment to excellence,” Ang said.
Brigstocke added that Opus would continue to use the services of Hong Kong-based strategic partner Hung Hing.
Meanwhile, Opus-owned book printer Ligare has brought in a new business development manager from the UK.
Carrick Wilkie was most recently sales director at Welsh book printer Cambrian Printers.
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