Transcontinental Completes Acquisition of Quebec Publications
Press release from the issuing company
Montreal, June 25, 2002 – Transcontinental Media’s acquisition of editions Versicolores and Specialites Terre a Terre, announced on May 21, was completed today. The largest gardening and horticulture publisher and distributor in Quebec, editions Versicolores and Specialites Terre a Terre, publish products aimed at consumers and professionals in the horticulture industry. Its best-known magazine, Fleurs, Plantes et Jardins, published nine times a year, has an average circulation of 71,000 copies and reaches over 725,000 readers. Based in Quebec City, the two companies have combined annual sales of over seven million dollars and employ about twenty people.
"This transaction is in line with our strategy of acquiring targeted publications in high-growth niches," said Andre Prefontaine, President of Transcontinental Media. "For us, it's an excellent complement to our portfolio of consumer publications, as we previously did not possess anything in the gardening and horticulture field. These publications are industry leaders and we are proud to be able to count on this team of seasoned managers and journalists."
The fourth largest print media group in Canada, with annual revenues of $400 million and over 2000 employees, Transcontinental Media is the leading publisher of consumer magazines in Canada and the second-largest publisher of regional and community newspapers. Through its well-known Publi-Sac (Ad-Bag), it is also the top door-to-door distributor of advertising material in Quebec. Transcontinental Media is a wholly owned subsidiary of Transcontinental Group, which is listed on the Toronto Stock Exchange.
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