Aquisition completed in targeted media segment
Atlanta, GA (PRWEB) June 10, 2004 -- LA Publishing and Media Group LLC (LAPMG) has completed its acquisition of Atlanta Wine Report Inc. (AWR). AWR is an Atlanta-based company, and publisher of The Wine ReportŪ Magazine. LAPMG is a holding company controlled by Vanquish Acquisition Partners LLC, a New York-based merchant banking firm specializing in making control acquisitions within niche segments of the media, leisure and entertainment industries.
AWR represents the second acquisition completed by LAPMG within the target segment. The company is also in process of pursuing other acquisitions, one of which is scheduled to close within the next three weeks.
"We are delighted to have successfully completed the acquisition of AWR, and most fortunate to have added to our publishing portfolio a magazine of this quality, and with the underlying potential as The Wine ReportŪ. The magazine has been earmarked to become a key component of our overall strategic growth plan within the high-end lifestyle and leisure segment of the publishing industry," said Joseph Del Valle, a director of LAPMG, and a senior partner with Vanquish Acquisition Partners, LAPMGs majority shareholder.
Del Valle further added that "the joining of AWRs magazine with Wine Country Living Magazine, (a high-end lifestyle magazine owned by LAPMG,) will likely produce certain synergies that not only should contribute to the enhancement of the quality of product and content of The Wine ReportŪ, but of equal significance, should present to our advertisers various benefits and advantages that will become evident over the course of the next few months."
"I am excited to have become a member of the LAPMG family," said Dan Thompson, President & Publisher of AWR. "With the support and resources of LAPMG, and the great editorial and sales team already on board, we will be able to develop our magazine into one of the leading wine and culinary publications in the country. This is an objective that has always been front and center with me, and if The Wine ReportŪ undergoes the same degree of initial improvements as realized by Wine Country Living while under the tutelage of LAPMG, then I am confident that my objective will be achieved."
Michael Carstens, a director of LAPMG and senior partner of Vanquish Acquisition Partners, indicated that "AWR will retain its current management, but that certain changes are in store, all directed at significantly improving the resource base of AWR. Both Dan Thompson and Gil Kulers are to remain, and will become key members of the post-acquisition company. Dan intends to be positioned so that he is allowed to direct most of his time towards sales and business development activities. Gil will retain his position as Editor of The Wine ReportŪ." The magazines offices will remain in Atlanta, Georgia.
"Both Dan and Gil bring a unique set of skills and experience in wine and food publishing to our team, and an in-depth understanding of the market that the magazine serves," said Carstens. "We're fortunate to have each on board, and look forward to working with them in the transformation of The Wine ReportŪ." Del Valle added: "Now that the transaction has been completed, our focus is being directed towards the implementation and management of those post-acquisition initiatives that have been purposely designed to significantly improve the magazine, and thus provide all current and new clients with the best possible source from which to advertise their respective products and services."
For more information
Contact:
Dan Thompson
(678) 985-9494
Or visit the magazine's web site at: http://www.winesimple.com
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