Adare printing has agreed to pay £1.35 million sterling for the business assets of Yorkshire based RR Donnelly Marketing Services.
The price is equivalent to the net asset value of the company. Some £1 million is to be paid on completion with the balance due on the second anniversary of completion.
In the year to the end of December 1995, Donnelly recorded an operating loss of £30,000 on a turnover of £5.5 million. The results included a depreciation charge of £325,000.
A subsidiary of RR Donnelly, which has operations in Britain and the US, supplies database and mailing services to financial services sector companies and utilities. The services are complementary to services provided by its companies in the same geographical region, according to Adare.
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