The dapd Group has acquired the renowned picture agency Picture Press from Gruner + Jahr AG & Co. KG for an undisclosed consideration.
Picture Press offers rights-managed and royalty-free images and illustrations for professional image researchers in editorial departments, advertising and design agencies. The increasing amount of digital pictorial material worldwide resulted in a continuous deterioration of turnover. This joint venture will increase sales and will broaden its activities.
The dapd Group covers all aspects of the news world with a regional and international correspondence network as well as text, picture and graphic online and mobile services.
The Gruner + Jahr printing and publishing company is Europe’s largest magazine publisher and generates higher turnover than any other German publishing house. Besides this transaction, Gruner + Jahr and dapd Group have agreed to an exclusive marketing cooperation in the syndication business on the German market.
Oaklins' team in Germany advised the seller in this transaction.
Dr. Hans Bethge
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