Jack Minns, Corporate Transactions Partner at Larking Gowen, who facilitated the deal, said: “It’s great to see two excellent local businesses come together in partnership like this.
“There are clear synergies between Art Angels and Page that should provide continued growth opportunities for the combined businesses going forward.”
Art Angels, which was founded in 1993, publishes and sells high quality greetings cards, calendars and stationery with a focus on the best in contemporary art and design.
Page Bros, a Norwich business with a rich heritage, established in 1746, is a leading provider in print, integrated design, fulfilment and associated end-to-end services for the publishing and education industries.
David Franklin, Corporate Transactions Executive at Larking Gowen, said the firm had been working with Art Angels for a number of years and were the main adviser on the sale.
“One of the main tasks for us was finding the right buyer. The sellers wanted a buyer whose ethos and values aligned with their own, and who’d be able to take Art Angels forward to future success, retaining their legacy for quality and an ethical approach to business,” he said.
“We have a thorough knowledge of the local market, and so were able to approach potential buyers in a confidential way and make the right introductions.”
Chris Cordingly and Judith Bennett-Rees, Directors and Shareholders of Art Angels, said: “This is a really exciting partnership for Art Angels that will keep the business in Norwich and provide a platform for continued growth. It was clear from the outset that culturally Page Bros group were the right partners for us and we’re looking forward to working together.”
“Jack and David at Larking Gowen not only found us the perfect partner to work with, but then continued to guide us through every step of this complicated process. They were always available at any time to support and advise when needed.”
Alex Tuya, CEO of Page Bros, said: “This is a partnership with a huge potential for both Art Angels and the existing Page Bros operations. The range of capabilities we have in the group, from website and e-commerce management down to print manufacturing, storage and fulfilment, will equip Art Angels with added agility and scalability, while achieving significant synergies in our operations. We’re committed to giving full continuity to Art Angels ethos and operations while enabling the business to achieve its next stage of growth. Chris and Judy are an inspiration and I’m pleased and excited to continue working with them in the evolution of Art Angels within the Page Bros group”.