Jarvis Porter will focus solely on labels and healthcare packaging after selling its dripmat and promotional print wing to former chief executive Richard Brewster.
The group announced last Thursday (16 August) that its Quarmby, Praesidium and Waterlomat businesses had been sold for 6m cash.
German-based Interbrandpro Holdings, set up by Brewster last year, purchased the firms through
a new UK company, Quarmby Promotions.
Im delighted, and hope this is the first of many acquisitions. We plan to develop a group specialising in alternative branded promotions, pursuing niches in print, said Brewster.
Interbrandpro is backed by 3i and bought a German promotions specialist last year. Adding some 10m in sales through the Jarvis Porter buy will give it turnover just short of 25m.
Brewster expects to retain all 100 staff, and the businesses will be headed by operations director Garry Hobson, who welcomed the change of ownership. I know Interbrandpro will support our plans to offer enhanced service and product to our customers.
Jarvis Porter has also sold its 50% stake in specialist dripmat board mill Svanskog Bruk in Sweden to its joint venture partner, for 2.7m.
As a result of the sale, Alan Mellor, managing director of speciality print and creative packaging, will leave Jarvis Porter at the end of the month.