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DC Thomson sells Parragon India
DC Thomson has sold Parragon India Ltd, the UK holding company of Parragon Publishing India Ltd, to private investor Virtue.
The sale, for an undisclised sum, will conclude 12th April. As part of the deal, Parragon Publishing India will continue to have exclusive access to print, publish and distribute Parragon content in the Indian, Middle East and North African markets.
A spokesperson from Virtue Ltd said: “We're delighted to confirm the purchase of Parragon India Limited and are excited about the future growth prospects in India, building on the strong foundations already laid.”
Parragon India m.d. Vineet Sharma will continue in his role as m.d. of the business.
DC Thomson revealed in February it had entered into consultation about the potential closure of the business, with up to 245 jobs at risk of redundancy globally. At the time, DC Thomson said the Bath-based business had been “underperforming for a number of years” due to difficult market conditions and severe pressure on margins.
