Repro acquires Macmillan's India printing operations for Rs25 crore
26 Aug 2011
Repro India has acquired Macmillan's printing operations in Chennai, for a consideration of Rs4.25 crore, excluding land and buildings.
Repro India has set up a subsidiary company, Repro Innovative Digiprint Pvt Ltd, which will hold lease rights of the land and buildings belonging to Macmillan Publishers India Ltd. The company said in a filing with the Bombay Stock Exchange (BSE).
Repro Innovative Digiprint Pvt Ltd and Macmillan Publishers India Ltd signed the business transfer deed on 16 August 2011, which came into effect on that date, the company said in its filing.
Under the agreement, Repro will also service Macmillan Publishers' print requirements in India. MPIL will also outsource the printing of their education books to Repro India Ltd, translating into a business of over Rs250 crore over the next seven years, Repro said.
Repro serves publishers and corporations, delivering content in multiple formats across Asia, Africa, Europe and North America. It exports to over 100 locations across the globe.
Besides India, the company supplies published content to schools, colleges, distance education universities and corporate training workshops in Nigeria, South Africa and a dozen other African countries.
It also serves the children's sections in retail stores in the mature markets of UK and the US.
