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Blue Star makes a move on Panprint

Wednesday, 12 March 2008
By Print21

Blue Star’s private equity march continues to pan out as it purchases Auckland-based printer, Panprint.

The commercial sheet-fed and label printing business caught Blue Star’s eye not only for its plethora of Pride in Print awards, but also for the team behind it. "When we look at acquisitions, we consider the personnel just as much as the business itself," said Glen Climo, CEO of Blue Star New Zealand. "Panprint consists of a good management team that will compliment us well."

Panprint will continue to operate in its current form, with all members of the senior management team entering into long term employment agreements with Blue Star. The management team consists of John Thorrat, general manager, Jeffrey Marsh, sales manager and John Lowther, commercial manager.

Thorrat (pictured) said that the Panprint welcomed the purchase. "It’s a very exciting opportunity," he said. "I’ve been an owner of Panprint for a number of years and I feel privileged to now be included in a business model like Blue Star which I have long admired."

Climo confirmed that further acquisitions are to come from Blue Star, so long as it finds businesses that share a similar philosophy. "We don’t just buy a business, we buy a business that has culture," he said.

"Blue Star will continue to seek out acquisitions that strengthen our customer relationships and broaden our service capabilities … It is part of a cohesive strategy based on acquisitions, capital investment, people and innovation."

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