Yell expands in Western United States with $69 million purchase of National Directory Company - 23 December 2002
Yell, the international directories business, today announced further US expansion with the signing of a definitive agreement for the $69 million acquisition of National Directory Company(NDC) – a leading independent publisher of yellow pages in the Western United States. The transaction is expected to close by the end of the year.NDC, founded in 1982, publishes 48 directories including 30 in Southern California, 14 in Arizona and four in New Mexico and will be consolidated with Yell’s US directory arm, Yellow Book. The move further strengthens Yell’s position as a leading independent directory publisher in the United States.
The purchase from affiliates of private equity firm Three Cities Research, Inc. gives Yellow Book a significant profile in the service-based markets in which NDC operates. Following Yell’s purchase earlier this year of McLeodUSA Media Group, the NDC acquisition means Yellow Book has a presence in 40 US states and Washington DC.
John Condron, chief executive of Yell, said: “ This acquisition is an important step for Yellow Book in extending its footprint in market areas where we are under-represented. We will quickly integrate the business under Yell best practice and its brands, building on our successful integration of McLeodUSA Media Group with Yellow Book.”
“ As well as giving us opportunities to grow revenue and profitability by developing the books, the acquisition of NDC will put us in a strong position to participate in further consolidation in fragmented markets.”
