MAIN NEWS HEADLINES
October 26 – November 2, 2006 Edition
Arts Publishing Gets
Boost From Ingram
LAVERGN, TN/10/23/06Graphic Arts Center Publishing Company (GACPC) has reached a tentative agreement with Ingram Book Group to buy 25% stake (valued at about $1 million) in the company and to provide distribution services. Ingram is the world’s largest wholesale distributor of book product. Information about the deal was included in an amendment to GACPCs Disclosure and Reorganization plan filed on October 18, 2006 with the US Bankruptcy Court. The deal is expected to culminate in January 2007.
Distribution and fulfillment through Ingram Publisher Services, Inc. (IPS) will provide Graphic Arts with order entry, customer service, warehousing, and fulfillment of the companys diverse list. The services include state-of-the-art customer service, EDI and i-Page ordering for Graphic Arts books, just-in-time fulfillment, and shipping through all four of IPSs warehouses. Graphic Arts will retain its strong sales and marketing team, and expects the new combination to give the company a significant boost in sales.
Ingram Book Group is a leading wholesaler of trade books, spoken audio, and magazines. Ingram provides immediate access to the largest selection of books and book-related products in the industry. Ingrams operating units include Ingram Book Company Inc., Ingram Periodicals Inc., Ingram International Inc., Ingram Library Services Inc., Spring Arbor Distributors Inc., Ingram Publisher Services Inc. and Tennessee Book Company LLC.
This is a very exciting opportunity, and is an important step in ensuring our emergence from Chapter 11 and our future growth as a company dedicated to quality book and calendar publishing, said Mike Hopkins, President, GACPC.
An Ingram spokesperson called the Graphic Arts investment "a special case," and confirmed that Ingram is not planning any similar investments.