Mergers and acquisitions

Koenig & Bauer (K&B) has bought an 80% stake in the folder-gluer business of manufacturer Duran Machinery in a deal that will enable K&B to offer a complete folding box production line.

The fates of Paperhat Group and its various subsidiaries have been revealed in administrators' proposals, which also state that unsecured creditors, who are owed £1.5m, will receive nothing.

German papermaker Zanders is set to be acquired, with the loss of 150 jobs.

An offer of between £140m and £150m was made for the whole of the Johnston Press group in the weeks before it was sold to JPIMedia in a pre-pack administration deal.

Nirvana CPH’s previous owners have regained control of the creative print services business following the fall into administration of majority shareholder Paperhat Communications earlier this month.

The three buildings previously leased by Sunline Direct Mail are up for sale.

Leeds-based z-fold card manufacturer Alpha Card has made its second acquisition in six months after snapping up French direct marketing materials distributor Media de Poche.

Johnston Press has been acquired in a pre-pack deal by JPIMedia, a newly-formed company controlled by a consortium of Johnston's debt investors led by US hedge fund GoldenTree Asset Management.

The remaining Paperhat Group companies are all in "advanced" stages of sales processes, according to FRP Advisory, following its sale of the group's Communications subsidiary to Paragon in a pre-pack...

The administrators of Paperhat Communications have been named, but the status of the remaining group companies is still unclear.