New Zealand print juggernaut Pacific Print, second only in size in its market to Blue Star Print Group, has continued its acquisition blitz and extended its reach across the Tasman, with the purchase of Sydney’s Graphic World, with more being mooted. Since its genesis three years ago, the company has purchased a dozen companies. The purchase of Graphic World marks the first time Pacific Print has set its gaze offshore, and adds 145 staff and $23m of turnover to the group. It brings the group’s staff numbers up to just under 600 and turnover of more than $117m.
However, this is by far not enough for Geoff Wilding, Pacific Print executive chairman. The company is currently in talks with another four companies in Australia, and a couple of others in New Zealand. Like all Pacific Print acquisitions, Graphic World and any future purchased companies will be operated by the group as separate entities.
Within the next two years Pacific Print Group plans to double its turnover through organic growth and further acquisitions.
"Our philosophy is to add real value to the businesses we acquire. We contribute financial management skills, making funds available where necessary, reviewing business plans and capital expenditure plans, and seeking synergies among the growing number of companies in the group. And further economies are created through the strength of the Group’s combined purchasing power," Wilding says.
"Our goal is to continue to deliver sustainable, above average returns for our shareholders. To achieve this, we will exploit trans Tasman advantages, and actively seek to increase current export business to the United States and into Asia.
"The printing industry is stable, growing and has steadily evolving technology and significant export potential. PPG has a carefully thought out long term plan that will see the company continue to grow substantially from where it is today delivering value to our shareholders, opportunity for our staff, and premium service for our customers.
"The significant growth and success of Pacific Print is a testament to the continuing resurgence of the commercial printing industry. Many people were predicting the demise of print with the advent of the Internet, but it is continuing to enjoy steady growth and there is no reason why this will not continue."
