Arvato acquires Gruner + Jahr’s stake in Prinovis
Achim Twardy, Chief Financial Officer of Gruner + Jahr AG and President of Corporate Services, which includes the company’s print and magazine holdings, said: “I would first of all like to thank the Prinovis management and staff, as well as our JV partners Arvato and Axel Springer, for six years of cooperation that was always professional and conducted in a spirit of partnership. G+J’s divestment of its shareholding changes nothing about our excellent and successful business relationship with Prinovis. We greatly value Prinovis’s efficiency and quality and will continue our collaboration on the printing of various German and international G+J titles long-term.”
Arvato CEO Rolf Buch commented: “By taking over the majority of shares in Prinovis, we strengthen the networking of our integrated solutions related to the production of printed products. At the same time we simplify Prinovis’s management structure. I thank the Gruner + Jahr management for our excellent cooperation in the past few years and look forward to systematically advancing the printing group’s business together with our partner Axel Springer and the entire Prinovis team.”
About Gruner + Jahr:
The Gruner + Jahr printing and publishing company is Europe’s largest magazine publisher and generates more turnover than any other German publishing company. Its more than 13,300 employees reach readers and users in 30 countries with over 500 magazines and digital offerings. G+J publications include STERN (D), BRIGITTE (D), GEO (D, E, F), CAPITAL (D, E, F), GALA (D, F, PL), ELTERN (CHN, D, E, PL), titles in the P.M. group (D), FINANCIAL TIMES DEUTSCHLAND (D), ESSEN & TRINKEN (D), and NATIONAL GEOGRAPHIC (D, F, PL, NL). Gruner + Jahr owns 59.9 percent of Motor Presse Stuttgart, one of the biggest special-interest magazine publishers in Europe. G+J also owns a 37.45 percent stake in PRINOVIS Ltd. & Co. KG, Europe’s biggest gravure group. Brown Printing, a G+J subsidiary, is one of the biggest offset printers in the U.S. G+J’s revenues in 2010 were €2.55 billion. International revenues account for 54 percent, making G+J one of the world’s most international publishing companies. Bertelsmann AG owns 74.9 percent of the company; the Jahr publishing family in Hamburg owns 25.1 Percent.
Arvato is an internationally networked outsourcing providers. More than 67,000 employees design and implement bespoke solutions for all kinds of business processes across integrated service chains, for business customers from around the world. Its portfolio includes all services related to the creation and distribution of printed materials and digital storage media, as well as data management, customer care, CRM services, supply-chain management, digital distribution, financial services, professional and custom IT services, and the direct-to-customer distribution of educational media.
In addition to being the leading gravure printing company in Europe, the Prinovis group specializes in custom-made print-related communication solutions. Alongside our high quality rotogravure and print finishing services, we offer our clients media creation and mobile solutions. The core expertise of Prinovis is gravure printing, with sites in Ahrensburg, Dresden, Itzehoe, Liverpool and Nuremberg. The total annual capacity of these sites amounts to 1.2m to. Multiple sites spread across Germany and the UK allow us to offer the highest levels of flexibility to our customers.
Prinovis Ltd. was founded in 2005 as a Joint Venture combining all the gravure printing activities of Arvato (Bertelsmann), Axel Springer AG and Gruner + Jahr AG. The CEO of the Prinovis group is Thorsten Thiel.