Property Consolidation

RNS Number : 9593S

Quarto Group Inc

14 November 2013

 



The Quarto Group Inc

("Quarto" or the "Company" or the "Group")

Property Consolidation

Quarto (LSE: QRT.L), the world's leading international illustrated non-fiction book publisher and distribution group, today announces that it has completed the consolidation of its three London offices into two.

The related sale and leaseback of The Old Brewery property brings Quarto proceeds of $2.8 million. Combined with the proceeds from the previously announced sales of The World of Fine Wine and The Image Factory, this takes total proceeds from non-core asset sales to $6 million to date, all of which will be used to pay down debt.  This is in line with the Board's on-going strategic review of the Company.

For further information please contact:

The Quarto Group Marcus Leaver, CEO / Mick Mousley, CFO	020 7700 9004
Bell Pottinger Pelham Elly Williamson	020 7861 2840

About The Quarto Group

The Quarto Group (LSE: QRT) is the world's leading international illustrated book publisher and distribution group and is listed on the London Stock Exchange. Quarto has about 400 talented people in four distinct but complementary businesses - Quarto International Co-editions, UK; Quayside Publishing Group, USA; Aurum Publishing Group, UK and Lifetime/Premier Display Marketing, Australia & NZ.

The Group is well positioned in attractively resilient segments of the publishing market which present opportunities for growth as the industry adapts to new means of marketing, sales and consumption. The Group's headquarters are in London where the Company was founded in 1976.

 

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