CPI has received valid acceptances for over 98% of Fulmars shares, and expects to de-list the company by the end of June.
Fulmar informed the City that it was in talks with a potential bidder at the end of March, comfirming, on 4 April, that the bidder was European book group CPI .
Fulmar comprises flagship colour commercial print business in Croydon, Royle Corporate Print, paperback book plant Bookmarque and jacket and cover printer The White Quill Press. CPI owns CPI Bath (with plants in Bath and Glasgow), Antony Rowe, and paperback plants Mackays and Cox & Wyman. The combined UK operations of both firms will have sales of 115m and make up around a third of CPI Group's overall revenues.
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"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
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