<i>PrintWeek</i>, the UK's leading title for the printing industry, is to be acquired by Mark Allen Group and be relaunched as a fortnightly magazine.
Mark Allen Group is one of the most successful independent publishing companies in the country and has singled out PrintWeek, which includes the world’s most popular industry website printweek.com, as a brand with a "brilliant future".
PrintWeek was founded in 1958, since which time it has grown into the UK’s leading title for the graphic arts industry, with licensed editions in Middle East & Africa and Russia and sister titles in Germany, India and Australia. However, Druck & Medien (Germany), ProPrint (Australia) and PrintWeek India are not part of the acquisition and remain part of Haymarket.
Mark Allen Group chairman Mark Allen said: "PrintWeek is a superb brand and our aim is to enhance its appeal as a more considered fortnightly. The print industry is going through some challenging times which we need to reflect by changing PrintWeek’s frequency from weekly to fortnightly. Once we have made this change, our view is that PrintWeek has a brilliant future."
The acquisition is expected to complete by the end of April, at which time the PrintWeek team will relocate to Mark Allen’s head office in St Jude’s church in Herne Hill, south east London. A timescale for relaunching PrintWeek as a fortnightly is yet to be finalised.
As well as PrintWeek, Mark Allen is also to acquire another Haymarket title, Nursery World, and these latest deals follow the acquisitive group’s purchases of three other Haymarket titles in recent years.
"We have been very successful with the previous Haymarket titles because, as a smaller company, we can extract maximum value and publish with the passion and commitment with which we are associated. We believe we will be equally successful with Nursery World and PrintWeek and we greatly look forward to having these brands within our group," Allen said.
Jane Macken, managing director of Haymarket Business Media added: "Whilst I am very sorry to see such fantastic brands and talented people leave Haymarket, I am confident that the Mark Allen Group offers a real strength of opportunity for both brands.
"There are obvious synergies within their portfolio for Nursery World, in the early years’ sector. For PrintWeek, the group can offer increased focus and commitment for PrintWeek in the UK. The sale of the titles allows HBM to concentrate on its core markets in line with the company’s group growth strategy."