New name for Valora's press distribution business
The press distribution business sold by Valora in May is given a new name. The buyer, Presse-Vertriebs-Gesellschaft (PVG), is renaming the newspaper and magazine business "7 Days Media Services".
The buyer, Thomas Kirschner, majority shareholder of PVG, wants to bring a breath of fresh air, as detailed in a press release issued on Tuesday. The company ensures press deliveries to around 5,000 sales outlets and around 10,000 delivery points in Switzerland and Luxembourg. Valora divested the press distribution activities of its Services division in Switzerland and Luxembourg, as well as the logistics business for third-party customers in Switzerland, as declining sales of newspapers and magazines put pressure on press distribution results.
Last year, the sold divisions generated net sales of CHF 272 million. The operating result amounted to around ten million francs. (SDA)
