TCH seals €2.4m deal for Irish Post

IRISH EXAMINER parent company Thomas Crosbie Holdings Ltd yesterday completed the acquisition of The Irish Post from Jefferson Smurfit Group in a deal worth €2.42m.

The acquisition is the first by the group in England and brings the number of newspaper titles in the group to 13.

The deal is the seventh acquisition of a newspaper title by Thomas Crosbie Holdings, Ireland's fastest growing media group, in just three years.

The completion of the acquisition coincided with the launch of The Irish in Britain Business Year Book at the Institute of Directors in London.

Speaking at the event, Anthony Dinan, managing director of Thomas Crosbie Holdings, said: "We are delighted to add The Irish Post to our stable of titles. We believe we can grow the paper and leverage the obvious synergies that exist by marrying our group resources with The Irish Post's position as an established brand in the British market."

New Irish Post CEO, Willie Cremen said: "I look forward to working together with the management and staff to realise the paper's potential for further growth and development."

With regard to possible future acquisitions Mr Dinan said: "We are certainly interested in other media opportunities that we feel can grow while getting good return and value."