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Acquisition

8 Apr 2005 07:00

Quarto Group Inc08 April 2005 QUARTO TO ACQUIRE NEW ZEALAND'S LEADING DISPLAY MARKETING BOOKS BUSINESS The Quarto Group, Inc., the London-based and listed international bookpublisher, announces that it has conditionally agreed to acquire Premier BooksLimited, New Zealand's leading display marketing books business. "Premier Books is an extremely well run business that has long dominated thedisplay marketing of books in New Zealand. The acquisition complements ouracquisition, of Lifetime Books, in Australia, in November 2004. The twobusinesses will be run autonomously, but we anticipate that there will be somemutual benefits, particularly on the buying side, as both Premier and Lifetimefrequently acquire exclusive display marketing rights, in their respectivecountries, to the same titles," commented Laurence F Orbach, chairman and chiefexecutive officer of Quarto. Under the terms of the agreement, Quarto is initially acquiring 70% of Premier'sequity, with the balance being the subject of put-and-call agreements,exercisable over the next ten years. The initial consideration is NZ$5.6 million (£2.1 million), payable in cash, outof Quarto's existing bank facilities, on closing, which is expected to takeplace within 30 days, after the completion of the audit of Premier's results forthe year ended March 31st, 2005. In the year ended March 31st, 2004, Premier made an unaudited pre-tax profit ofNZ$1.0 million, after non-recurring expenses, on a turnover of NZ$9.4 million.Unaudited net assets at that date totalled NZ$0.66 million. In the year ended March 31st, 2005, after adding back non-recurring expenses, itis expected that Premier will make an audited pre-tax profit of over NZ$1.5million on a turnover of NZ$10.2 million. After payment of a dividend, adjustednet assets at March 31st, 2005 will total NZ$0.4 million. Premier's management, led by Grant Letica, 39, the chief executive officer, isremaining in place, and Mr Letica will retain 20% of the equity in the business.Premier is based in Auckland, operates through approximately 50 representativespaid on commission, and has 12 employees. Laurence F. Orbach concluded: "In March 2004, following a strategic review,Quarto announced that the Board intended to grow Quarto substantially throughmaking selective and significant acquisitions and accelerating organicinitiatives. Premier is Quarto's fourth acquisition since then. Furtheracquisitions continue to be sought." Notes for Editors: Quarto is an international book publisher with two principal strands ofactivity: it publishes, under imprints owned by the Group, books and art printsin the US, the UK, and Australia; and it creates books that are licensed toother publishers for publication under their own imprints in many languagesaround the world. 2004 was Quarto's sixth successive year of increase in underlying EPS. Quartomade three acquisitions in the second half of 2004, in the USA, the UK, andAustralia. Enquiries: The Quarto Group, Inc. 020-7700 9000Laurence Orbach (Chairman & CEO)Mick Mousley (Finance Director) Bankside Consultants LimitedCharles Ponsonby 020-7444 4166 This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
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31st Jan 20177:00 amRNSTrading Update
29th Nov 20167:00 amRNSAppointment of Joint Corporate Broker
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3rd Nov 20167:00 amRNSQ3 Interim Management Statement
13th Oct 20167:00 amRNSCapital Markets Event
27th Sep 20162:01 pmRNSDirectorate Changes
6th Sep 20167:00 amRNSNotification Of Transaction
26th Aug 201611:24 amRNSHolding(s) in Company
19th Aug 20167:04 amRNSDirector/PDMR Shareholding
15th Aug 20167:00 amRNSTreasury Stock
11th Aug 20167:00 amRNSTreasury Stock
9th Aug 20167:00 amRNSHalf-year Report
8th Aug 20167:00 amRNSThe Quarto Group Acquires becker&mayer
29th Jul 201611:00 amRNSNotice of Results
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6th Jun 20163:31 pmRNSNotification of Transactions of Directors
24th May 20161:00 pmRNSAnnual Meeting Result
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29th Apr 20168:13 amRNSAnnual Report
20th Apr 201611:30 amRNSDirector/PDMR Shareholding
14th Apr 20168:01 amRNSQuarto Group joint venture with Kalimat Group
14th Apr 20168:01 amRNSQuarto creates new business development arm
4th Apr 20161:18 pmRNSHolding(s) in Company
1st Apr 201611:47 amRNSDirector/PDMR Shareholding
31st Mar 20167:00 amRNSDirector dealing, Board change & LTIP achievement
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17th Mar 20162:51 pmRNS2015 Final Dividend Calendar
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17th Mar 20167:00 amRNSDirectorate Changes
17th Mar 20167:00 amRNSFinal Results for the Year Ended 31 December 2015
15th Mar 20166:35 pmRNSDisclosure of Home Member State
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8th Mar 20168:00 amRNSFurther RE: Analyst Briefing
16th Feb 201611:00 amRNSNotice of Results
3rd Feb 20167:00 amRNSAcquisition of The Harvard Common Press
28th Jan 20167:00 amRNSTrading Update
8th Dec 20159:00 amRNSCEO guest speaker at IP Dealmakers Forum, New York
1st Dec 201510:01 amRNSHolding(s) in Company
18th Nov 20157:30 amRNSHolding(s) in Company
18th Nov 20157:30 amRNSHolding(s) in Company
18th Nov 20157:30 amRNSHolding(s) in Company
17th Nov 20152:14 pmRNSHolding(s) in Company
17th Nov 20158:20 amRNSHolding(s) in Company
17th Nov 20157:00 amRNSShareholder Changes
4th Nov 20157:00 amRNSQ3 Interim Management Statement
30th Sep 20153:00 pmRNSDirector/PDMR Shareholding

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