IVE Group Limited (ASX: IGL) has agreed to acquire Salmat Marketing Solutions, the Australian catalogue distribution business of Salmat Limited (ASX: SLM), for a consideration of $25 million.
- The transaction comprises of the acquisition of Salmat’s catalogue distribution business in New Zealand, Reach Media NZ Limited.
- The Marketing Solutions along with Reach Media will form a part of IVE’s massive production and distribution offering and will operate as standalone businesses.
- IGL would further invest $25-30 million to automate the Marketing Solutions catalogue collation process.
- The agreement, scheduled for completion on 1 January 2020, is subject to satisfaction of customary conditions.
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