The deal for an undisclosed sum – which is subject to the approval of by McPherson’s shareholders – would combine McPherson’s Printing Victorian plants in Maryborough and Mulgrave, with Opus’ Ligare businesses in Sydney and New Zealand.
If the deal is approved, McPherson’s print division will be demerged from its parent company which will remain on listed on the ASX as a provider of consumer products.
Cliff Brigstocke, CEO of Opus says the merger with McPherson’s Print Division will create a seamless content delivery capability across Australia, New Zealand and South East Asia.
He says, “The merger creates a transformational change for both businesses bring together scale, the latest technology and innovation in the rapidly evolving information content, process and delivery sector.
“This is about bringing two strong businesses together and accelerating our transformation for clients with network efficiencies, digital services and new business services offerings.”
The proposal comes in the wake of a revenue slump for McPherson’s printing division, which in August reported a drop in sales revenue to $58.9m, down from $64.3m, which the company attributed to a combination of “subdued market conditions”.
Brigstocke continues, “The merger is part of the transformation print is undergoing. The Digital area is already a rapidly growing area of our business, adding to our expansion in logistics out-sourcing, asset management and content reformatting. Over 50 per cent of Opus revenue comes from non-traditional print activities, and it’s growing fast.”
Opus has a long track record of successful acquisitions, having grown from $29m in revenue in 2007 to approximately $140m in revenue following this merger.
Brigstocke adds, “We will continue to acquire and partner with complementary businesses that meet our customers’ needs. We’re at a moment of exciting new technology and social change.”
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