FORTOAK GROUP ANNOUNCES JOINT MERGER OF TICKETMEDIA AND PURPLE PAPER LTD TO BRING SMART TECHNOLOGY TO THE PRINTED TICKET ROLLS
The Fortoak Group is delighted to announce the acquisition of 49% of both Ticketmedia Ltd and Purple Paper Ltd who become the newest members of the Fortoak Family Group of Companies.
Fortoak is the UK’s leading supplier of till rolls, labels, PPE, and packaging solutions. Based in Loughborough, London and Birmingham, it produces till rolls and labels for retail stores Tesco, Morrisons, Asda, Coop as well as many other non-food Retailers.
Sales reached £12m for the year to 31st August 2020 for Fortoak Rolls Ltd, and £18m for the Group.
Ticketmedia is globally recognised as the leading authority on ticket advertising of all descriptions including bus and train tickets and has been active in the ticket market for over 30 years.
Purple Paper has been acting as a solution for medical specialist thermal and data processing rolls for over 15 years. It has huge channels into the NHS, Dentistry, Care Home and other medical diagnostic markets which can now be supported and championed with markets Fortoak have created, especially during the Covid19 pandemic and its supply of PPE and other medical supplies.
Chief Executive Alex Vergopoulos said: “Ticketmedia is the most successful channel in this form of advertising and the opportunity to branch out the concept into retail and other markets is limitless now through the channels Fortoak has established over it many years. We see huge scope to develop the brand in a solid way to embrace the current changes in the market.”
Vergopoulos added: “These are exciting acquisitions and demonstrate the investment Fortoak has made over the last 3 years The company is currently developing technology that will attach an electromagnetic tag within its paper rolls and labels, enabling data to be sent directly to brands when a purchase has been made.
“This collaboration will bring smart technology over the very near future into our markets in a very productive but disruptive fashion and change our markets for the better. We will be announcing very exciting new ventures through these companies in the coming months.”
Vergopoulos will take over from Jeremy Burbidge, Managing Director, of Ticketmedia, and assume the role CEO for both companies with immediate effect.
Jeremy Burbidge said: “We are pleased to welcome Fortoak group to our family and bring together experiences and energy to create an influencing group of people to take innovation through all possible channels over the next couple of years and beyond. The fit is perfect for us to develop these new technologies and gain access through the Fortoak Customer base.”
The transactions are effective immediately and are supported through Fortoak Manufacturing and Fortoak Investments.
The transactions bring a specialist manufacturing unit in Hove, Sussex with 12 producing machines, from Print, Till Roll Slitters, Labelling, Ticketing as well as other specialist products.