Weekly shopping publication and direct mailer Pennysaver Group Inc. has been bought by SV Investment, the investment group said yesterday. Terms of the deal were not disclosed.
Pennysaver, Hanover, MD, publishes 66-weekly editions of its community-based, advertising supported, direct mail shopper in the Baltimore-Washington metropolitan area. The shopper reaches 1.1 million households, and the company also has online offerings.
Harry J. Buckel was named chairman of Pennysaver. Mr. Buckel has served as an operating advisor to SV on marketing services investments for the last four years. Mr. Buckel has more than 30 years experience in the publishing industry, including more than 20 years in the shopper sector, where he ran both Harte-Hanks' Shopper division and Newport Media.
“Pennysaver is a well-known and established name in the shopper industry,” Mr. Buckel said in a statement. “The management team and I believe there is significant opportunity for Pennysaver to reinforce and build its industry leadership position, and we look forward to putting in place the initiatives we have been planning.”
Expansion of product offerings is one of those initiatives, he added.
Other members of the Pennysaver management team are president Darwin Oordt and vice president of operations Chet Cleaver.
Kristen Bremner covers list news, insert media, privacy and fundraising for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters