Bure acquires Journalistgruppen and Propello
Bure acquires Journalistgruppen and Propello Bure is acquiring 100 per cent of the communications agency, Journalistgruppen, and 100 per cent of the film production company, Propello, from Cell Network. The acquisitions mean that Bure is further strengthening its position within communications and information related services. Journalistgruppen is one of Sweden's leading communications agencies. The company offers counselling in internal and external communications as well as production of content. Leading customers include SEB, Pharmacia, Ericsson, Assa Abloy and Telia. In 2000, Journalistgruppen reported sales of approximately SEK 200M. The company has around 140 employees. Propello produces film for internal and external communications. Its largest customers include Telia, IKEA, Astra Zeneca, Ericsson and Tetra Pak. Propello reported sales of approximately SEK 45M in 2000 and currently has around 20 employees. Propello will be merged with Stark Filmproduktion which is a wholly-owned subsidiary of Bure. Together, Stark and Propello will take a leading position in Sweden in communications with moving pictures. "With Bure as the owner we will get an increased potential for development in an environment in which communications form part of the core operation," says Anders Lugn, President of Journalistgruppen. "We take a very positive view of this deal and see a significant potential for a strong development within the Bure Group in the future," adds Pehr Andersson, President of Propello. "Business communications have a strong growth potential and customers are making increasingly strict demands when purchasing this type of services. Journalistgruppen and Propello are two companies which hold strong positions and have the ability to deliver very high quality services. The potential for creating attractive customer offers through synergies with other companies within the Bure Group will be significant," says Örjan Serner, Senior Investment Manager of Bure's investment area Media & Information. Through the acquisitions Bure continues to strengthen its position within communications and information related services. Investment area Media & Information also includes Appelberg (company magazines), Stark (film production) Citat (systems for market communication) and Convenio (event marketing). Gothenburg, 16 July 2001 Bure Equity AB (publ) For further information, please contact: Örjan Serner, Senior Investment Manager, Bure Media & Information +46 708-13 44 82 Anders Lugn, President of Journalistgruppen +46 706-08 87 80 Pehr Andersson, President of Propello +46 739-73 39 00 Magnus Boldyn, President of Stark +46 708-84 03 90 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/07/16/20010713BIT00460/bit0002.doc http://www.waymaker.net/bitonline/2001/07/16/20010713BIT00460/bit0002.pdf