Bertelsmann takeover of Prinovis approved
Monday, December 21, 2015
Prinovis is now a wholly owned subsidiary of Bertelsmann, following the approval of its takeover.
German media giant Bertelsmann announced in October that its Be Printers division had taken sole ownership of pan-European gravure printer Prinovis.
The EU Commission has now given approval for the remaining 25.1% of Prinovis’ shares – previously owned by publishing group Axel Springer - to be acquired by Bertelsmann.
Be Printers said this change will have no impact for Prinovis’ employees and customers and that the firm’s locations, management and service portfolio will remain the same as before.
The business added that the simplified ownership structure would enable Prinovis to react more swiftly in the marketplace.
Prinovis was formed a decade ago when Bertelsmann divisions Arvato and Gruner & Jahr amalgamated their gravure printing operations with those of Axel Springer, forming the largest gravure printer in Europe in the process.
In 2012 Bertelsmann spun off its gravure and international printing operations into a new division, Be Printers.