This announcement was shared with newsXpress members and newsagent and gift suppliers earlier this month.
NEWSXPRESS OWNERSHIP ANNOUNCEMENT.
newsXpress founding director Graham Randall has agreed to sell his shares in the newsXpress business to Mark Fletcher, his partner since 2005 in newsXpress. The transaction will be completed in the next few days.
Having founded the business in 2001, Graham played a key role in its formation and early development. He saw the need for a group for proactive newsagents as well as the need to move the group from its Queensland base and in 205 invited Mark Fletcher to acquire an initial share in the business.
The years since 2005 have seen considerable growth in terms of rooftops and in terms of services delivered to its small business retailer community.
newsXpress today is considerably more diverse than the group of even ten years ago. The company has plans for considerable evolution through 2019 and beyond.
The sale and acquisition transaction has been negotiated between the two and with a focus on ensuring operating stability and commercial opportunity for newsXpress members.
Graham Randall’s own newsXpress businesses will continue to be trade under the newsXpress name and be part of group.
Graham Randall commented … “The time feels right for me to step away from an ownership role in newsXpress. I know it is in good hands and have every faith in the whole team to continue to develop and evolve the group. This move frees me to explore some other opportunities in addition to my existing retail businesses. I wish newsXpress, its employees and its member businesses every success in the years ahead.”
Mark Fletcher commented … “Graham Randall had the vision to create newsXpress and through it to provide many newsagents a pathway away from the traditional and into a brighter future. I am grateful to Graham for the thirteen years of business partnership and look forward to plenty more years of friendship. While this is a change to the ownership of newsXpress, it will not result in dramatic change in what we do.”
Given the stable management and operating structure of the business, it will be business as usual for newsXpress, its supplier relationships and its members. The company has a skilled teal of merchandise, marketing, sales and creative professionals who work enthusiastically and diligently every day for the benefit of the newsXpress member community.
newsXpress today serves in excess of 240 locally owned retail businesses located in all Australian states and territories. It also operates a network of websites that acquire online orders on behalf of newsXpress member businesses as well as running a network of social media accounts with a combined reach of in excess of 100,000 people.
As the Australian newsagency channel continues to evolve, so will businesses that serve the channel. I am energised and focussed on presenting to newsagents through my businesses commercially valuable opportunities and through this place freely accessible ideas and encouragements for embracing valuable change.