Blue Star Group, a division of ASX listed IVE Group, has continued its expansion drive with the acquisition of Melbourne print and communications specialist Fineline Printing.
The deal, for an undisclosed amount, is expected to be completed by the end of this week.
'They're a great, well-respected business and have been a competitor in the market in Victoria so we've known the Fineline team for some time," said Matt Aitken, CEO, Blue Star Group.
Fineline - one of Melbourne’s leading printing businesses for more than 30 years - will be integrated into Blue Star Print's facility ten minutes away at Clayton, with warehousing services to be managed from Blue Star Connect’s logistics site in Keysborough in Melbourne's south-west. Blue Star Print Victoria GM Brad Hoffmann will lead the combined business, with Fineline owner and CEO Neil Collyer staying on to assume a senior role. It's understood that the majority of the staff from Fineline will make the move across to Blue Star but there will be some job losses. Details of the staff cuts have yet to be disclosed.
The transfer of some of the machinery and equipment from the Fineline facility at Noble Park across to Blue Star at Clayton will begin next week.
“We are delighted to be joining such an iconic and innovative business as Blue Star," said Collyer. "It will enable Fineline Printing to broaden our reach and strengthen our end-to-end offering, a great outcome for our valued customers and our dedicated staff.”
With a diverse range of production capabilities, including traditional offset printing and digital, Fineline Printing offers a comprehensive suite of services including creative design, commercial printing, wide format, print management and warehousing.
“Fineline Printing is well known for their commitment to service, innovation and quality – an approach shared by Blue Star," said Aitken. "With an excellent profile of work and broad capabilities, great staff and clients, Fineline Printing is an ideal fit for Blue Star.”
IVE consists of 4 operating divisions – Kalido (creative and marketing services), Blue Star Group, Pareto Group (fundraising specialists - NFP sector) and IVEO (managed solutions) - and employs 1,300 people in Sydney, Melbourne, Brisbane, China and New Zealand. Blue Star businesses include Blue Star Print, Blue Star Direct, Blue Star Web, Blue Star Display, Blue Star Promote and Blue Star Connect.