Newspread, the newspaper and magazine distribution business owned by Independent News and Media, has acquired one of Ireland's largest stationery providers for an undisclosed sum.
Established in 1991, Ballycoolin-based Supreme Stationery is a leading provider of premium stationery to retailers, bookshops, school suppliers and wholesalers.
Sean McDonough, the founder and chief executive of Supreme Stationery, is to remain with the business following the deal.
Newspread said the acquisition would complement its existing non-news offering and allow it to grow its stationery business.
Established in 1971, Newspread, which provides deliveries to 6,000 retailers every day, has been recording strong growth as it diversifies away from simply delivering print publications.
"In the face of a continuing challenging environment for print and circulation in newspapers, INM is looking to achieve additional growth through its distribution business. Supreme Stationery is a very successful business with a great legacy and we look forward to its integration into Newspread," said Independent News and Media chief executive Michael Doorly.
The transaction has been approved by the Competition and Consumer Protection Commission.
