UK private equity group, Key Capital Partners (KCP), announced on Tuesday that its portfolio company, Pandora Books, which supplies books to UK schools, has bought competitor, Badger Publishing, from EDCO, the Irish educational publishing division of Smurfit Kappa Group.
Although no deal value was disclosed, the combined turnover of the new company will be around £10m.
Having originally backed the management buy-out of Pandora in April 2008, KCP provided all of the funding to Pandora to support the acquisition.
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