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Fairfax NZ Sells Gordon & Gotch To Pmp (NZ) Ltd
Fairfax Nz Sells Gordon & Gotch To Pmp (Nz) Ltd
Fairfax New Zealand has announced the sale of its magazine marketing and distribution business Gordon & Gotch to PMP (NZ) Ltd for $NZD4.4 million with an appropriate adjustment for working capital.
Fairfax New Zealand chief executive officer, Brian Evans said following a review of the business it was decided Gordon & Gotch no longer formed a core component of the company’s future activities.
“We are delighted that PMP are the new owners of Gordon & Gotch. They have proven expertise in this area following their purchase of Gordon & Gotch’s Australian operation in 2000 and are well positioned to take the business forward.”
Rodger Shepherd, chief executive, PMP NZ Ltd believes having the Australian and New Zealand operations under common ownership will result in benefits for the company and its stakeholders.
“We will use the synergies between the two operations to develop and explore new business opportunities in both markets. In addition, the ability to share technology and client information systems between Australia and New Zealand will result in increased levels of services offered to existing customers.
“It will be very much business as usual for our customers but at the same time we will be exploring opportunities to add value to the services we currently provide to them. All Gordon & Gotch employees have been offered the opportunity to move across to PMP at no less favourable terms than they currently enjoy. We are very pleased David Gadd will continue to manage the business”
Gordon & Gotch will be added to PMP’s print, distribution and digital businesses and will further strengthen the broad range of print related services it currently offers.
Although no longer owners of the
business Fairfax New Zealand will be a core client for
Gordon & Gotch who are responsible for distribution of the
Sunday Star-Times, Sunday News along with Fairfax magazine
titles including TV Guide, Cuisine and NZ House &
Garden.
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