The owner of a number of regional newspapers has taken a majority shareholding in a children’s magazine publisher.
The Claverley Group has announced the deal with Kennedy Enterprises Ltd, which publishes a portfolio of 25 different magazines and has annual copy sales close to four million.
Claverley Group comprises of the Midland News Association, publisher of the Express & Star and Shropshire Star, the Guiton Group, which owns Jersey Evening Post and Guernsey Press, commercial print company Precision Colour Printing and publishing software company Press Computer Systems.
The investment will see Kennedy Publishing, the company under which Kennedy Enterprise Ltd trades, continue to operate from its current base in Wick, near Bristol.
Claverley says the agreement has been made with a view to “support the further growth of the business”.
Dean Barber, circulation director of the MNA, has been appointed as managing director of Kennedy Publishing and will work alongside the current shareholders of the business, Joanne and Paul Kennedy.
Claverley Group chief executive Phil Inman said: “We are delighted to confirm our investment in a growing business and look forward to working with the current shareholders to support the development of the portfolio of titles over the coming years.
“The deal shows Claverley’s commitment to print and will further grow our portfolio of businesses.”
Paul Kennedy added: “Claverley is well known to us through our longstanding relationship with Precision Colour Printing. We welcome the opportunity to draw upon its strengths while continuing to increase our range of quality magazines.”