Valassis sells its French divisions

Share this article:

Media and marketing services company Valassis communications announced that it would sell its French subsidiaries to HighCo, a French marketing services company, for an undisclosed cash amount.

Valassis' business in France consisted primarily of media-related activities such as coupon and promotional distribution and in-store signage.

Management had previously projected its French operations' revenues and earnings before taxes, for the second half of 2008, to be approximately $16 million and $1 million, respectively.

“With limited human and capital resources to invest in long-term international growth, it is imperative we invest where the greatest potential for growth and return on investment exists," said Alan F. Schultz, Valassis chairman, president and CEO, in a statement. "With the completion of our state-of-the-art clearing operation in Poland, we will focus our efforts on the clearing business in selected countries in Europe, which has proven to be a more profitable business.”


This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions