Adweek has been sold from one private equity firm to another. The advertising industry publication, which marked its 40th anniversary last year, has been acquired by Los Angeles-based private equity firm Shamrock Capital Advisers, both parties announced Tuesday morning. The seller, Toronto-based PE firm Beringer Capital, had owned Adweek for the past four years, acquiring it in July 2016, about six months after the breakup of its former parent company, Prometheus Global Media, by then-owner Guggenheim Partners.
As a brand that believes in freedom, equality and a life with no boundaries for all – not just some, Banana Republic aims to continue empowering people through clothing. In response to the current crisis in America, Banana Republic Will Work for a Better Republic by donating more than $20 million of new clothing to those in need, including millions of unemployed Americans who need support getting back to work and getting back on their feet. In partnership with Delivering Good – a nonprofit organization that unites retailers, manufacturers, foundations and individuals to support Americans affected by poverty and tragedy – Banana Republic will donate clothing to a variety of partner organizations in states that have been most impacted, including Hour Working Women Program in New York, Central City Neighborhood Partners in Los Angeles, Family Focus Englewood in Chicago, among others. This donation will help people as they build a brighter future.
Grainger announced it has entered into a definitive agreement to sell Fabory Group to Torqx Capital Partners, a Dutch private equity company. Grainger will continue offering broad line MRO products to customers in Western Europe through Cromwell and Zoro. "I want to thank the Fabory team for their innovative and customer-focused approach," said DG Macpherson, Chairman and CEO of Grainger. "I'm confident the acquisition by Torqx will better align with Fabory's growth objectives. At the same time, Grainger remains focused on providing value to our customers, executing our strategy and delivering profitable growth through our high-touch and endless assortment offerings."
Environmental media organization Grist announced today that it has acquired the digital archives and brand assets of online social and environmental-social justice magazine Pacific Standard. Through the agreement, Pacific Standard’s content, which includes written stories in addition to audio and video, will be available for free via its original URL, psmag.com, which Grist now owns. Pacific Standard, which features a combination of deeply reported journalism and peer-reviewed research, was forced to shutter in August of last year after one of its major financial backers pulled funding. The magazine was founded by Sara Miller McCune in 2008 and was first called Miller-McCune.
Royle Printing’s newest installation, a Manroland ROTOMAN S will be operational by the end of June. The press is located at the printer’s newest 120,000 sq. ft. facility on Success Way. The investment utilizes leading Manroland technology and enhances Royle’s diverse manufacturing platform. The press will create ideal conditions for record production times for high-volume jobs with very efficient make-ready numbers. The ROTOMAN S is particularly efficient for the catalog and publication markets; capable of producing digest, standard up-right and tabloid formats. More information on the press can be found on Manroland’s website. Royle has positioned itself for the future by making significant investments in technology, equipment and their most critical resource, people. Today, Royle undoubtedly has one of the more modern, diverse and financially healthy production platforms in print. Royle’s passion is to provide high-quality graphic and distribution solutions to publishing and catalog markets.
After nearly two years of planning and construction, Windsor Mill’s newly reconfigured woodroom is now one of the largest and most modern in North America. The woodroom upgrade allows the mill to increase productivity while reducing fiber loss between the forest and the mill. The woodroom is where logs are debarked and processed into wood chips to feed the mill. The woodroom upgrade involved replacing two existing log-processing lines with one modern, state-of-the-art line. While the previous system could process only 8-foot-long logs, the new single-line system boasts more capacity and can handle logs that are 4 to 26 feet long. Windsor Mill Manager Sylvain Bricault says the debarking process improvement will reduce fiber loss by 4 percent each year, allowing the mill to get more usable fiber from the same amount of wood.
Evergreen Packaging® announced the release of TruSpec® Inkjet Book with ColorPRO Technology, a new digital coated matte paper developed in conjunction with HP. Evergreen is the only North American coated paper producer utilizing cutting edge HP ColorPRO technology. TruSpec Inkjet Book is certified for all HP inkjet presses and in head-to-head product comparisons has proven to provide vastly improved press speed, superior ink densities and color gamut, with stellar lay-flat properties. TruSpec is raising the bar for Inkjet substrate performance. Printer segments from Book Publishing, Direct Mail, and Commercial Print to Packaging, can be more efficient, saving time and money without the traditional speed-to-quality trade-off. “TruSpec Inkjet Book is the first new product in Evergreen’s Pine Bluff digital paper focus and continues our 30 year history as a leading producer of coated publishing and commercial grades,” said Ken Russell, Vice President Paper and Specialty at Evergreen. “This new product is a great fit with our manufacturing process and capabilities. Coupling this product innovation, with our proven service platform, is enabling Evergreen to provide incredibly flexible service, with one stop shopping for paper basis weights ranging from 45 lb. – 60 lb., and roll widths from 18” – 50+”. Collaborating with HP on ColorPRO Technology provides commercial printers and publishers with an opportunity to expand and enhance their business via a paper that prints faster, uses less ink, and comes from a mill with a dependable service platform.”
Verso Corporation announced that Terrence M. Dyer has been appointed Verso's Senior Vice President, Human Resources and Communications, effective June 1, 2020. "I am pleased to have Terry join Verso and our senior leadership team with responsibility for leading our human resources and communications initiatives that support our strategic business plans," said President and Chief Executive Officer Adam St. John. "Terry brings more than 20 years of human resources experience to Verso and has a solid reputation for companywide talent strategies that support current and future business performance, employee engagement and retention."
UPM Plywood is planning to permanently close its Jyväskylä plywood mill, which is producing spruce and birch plywood. The company starts a consultation process concerning the entire personnel working at the mill. UPM Jyväskylä plywood mill employs 167 people. The Profitability of Jyväskylä plywood mill has been weak for a long time, even during periods of high-demand. Despite investments as well as savings and improvement activities, the profitability has not improved to a sustainable level.
Three online advertisers are suing Google for allegedly violating antitrust laws by monopolizing "digital advertising markets." “Google leveraged its stranglehold on online search and search advertising to gain an illegal monopoly in brokering display advertising on other companies’ websites,” the marketers allege in a class-action complaint filed last week in U.S. District Court for the Northern District of California. The case was filed on behalf of Washington, D.C. tour company Grand Atlas Tours, Delray Beach, Florida-based Prana Pets (which sells herbs for dogs and cats) and the San Francisco law firm Hanson Law. They claim Google “achieved this market dominance in part by acquiring rivals in the online advertising space, conditioning access to its search-results data and YouTube video advertising platform upon the purchase of its separate display advertising services, and ensuring those systems were not compatible with those of its competitors in online advertising."