7 August 2019
Half of Astley Gilbert Sold For $17 million
Astley Gilbert Head Office North York
Astley Gilbert Head Office North York
Founders Advantage Capital Corp. has announced that it has entered into agreement to sell its 50% interest in Astley Gilbert(AG) for  $17.0 million  to AG management .  Founders Capital bought 50% interest in Astley Gilbert back in October, 2017 for $24.7 million.The reasons  given is  that the Founders  and management  of AG did not share the same long-term vision for AG going forward
and the Ontario printing industry has faced challenges as the retail and construction sectors both softened considerably . The sale is scheduled to close on September 30, 2019.
Astley Gilbert, founded in 1970, has 13 locations in Ontario. Astley Gilbert claims to have the largest market share for architectural, engineering and construction (“AEC”) reproductive printing in Ontario. Astley Gilbert was listed as the 31st largest printer in Canada with about $34 million in sales on Graphic Monthly Top  Canadian Printers list.
1. What ? says:
7 August 2019 at 11:14 PM
hoping my RRSP Mutual funds were not part of this smart investment
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