Marketing, communications and printing group IVE announced a long term contract with Australian Community Media (ACM) for printing and distribution of titles currently published and managed by ACM.
The contract is expected to generate revenue of about $100 million over the five-year term.
"To support ACM’s requirements, and further enhance service to IVE’s customers, IVE will also acquire selected assets of ACM’s web offset printing operation in Mandurah,Western Australia,": the company says.
The deal is due to complete Friday October 30.
In the year to June, IVE posted an underlying net profit after tax from continuing operations of $32.6 million, down 8% from 2019.
Last week IVE announced the sale of its telefundraising business for $16.5 million
Nine sold the Australian Community Media and printing business (ACM) to Antony Catalano, the former head of Domain, and the Thorney Investment Group for $115 million in April 2019.
Catalano is now ACM executive chairman.
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