26th Mar 2019 10:38
LONDON (Alliance News) - Printing and graphics company Grafenia PLC said on Tuesday that it has acquired design agency Artichoke Design Ltd for an undisclosed amount.
The design agency has worked as a brand partner to Grafenia's brands for over 15 years, first as a printing.com bolt-on franchise and latterly as a Nettl partner.
The business generates an operating profit of GBP40,000 and GBP180,000 turnover. It was founded and operated by brothers Richard and Dave Morris. Richard is to remain at the firm whilst his brother leaves to pursue other ventures.
The business will relocate imminently into the Nettl of Birmingham business store at the end of the store's existing lease which will reach its term soon, Grafenia said.
"Richard has been a long-term partner and I've known him for over a decade and a half. Now we're delighted to have Richard join Grafenia. With the support of a larger team behind him, we look forward to making the most of Richard's tenacity and sales skills to grow our Nettl of Birmingham Business Store," said Grafenia Chief Executive Peter Gunning.
Grafenia shares were down 8% at 11.50 pence each on Tuesday.
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