GVIC Communications buys Western Producer Publications.

GVIC Communications (Vancouver, BC) has acquired Western Producer Publications (WPP; Saskatoon, SK) from the Saskatchewan Wheat Pool (SWP) for C$12 million. SWP said it will have an after-tax gain of about C$9 million.

WPP produces The Western

Producer, a weekly agricultural tabloid newspaper with a circulation of over 70,000 western Canadian farmers, Farming magazine, a glossy magazine published ten times a year, the Farmer's Phone-Book, an annual directory of agricultural businesses, organizations and government institutions, and The Farm Computer Guide, an annual directory of agricultural Web sites. According to SWP's annual report, WPP had 2001 sales of C$16 million and EBITDA of nearly C$4.1 million.

The largest shareholder in GVIC Communications is Glacier Ventures International Corp. (Vancouver, BC), the publisher of Business In Vancouver and Western Investor, a title for the commercial real estate investing industry, as well as community newspapers, tourist magazines, annual directories and technical and business manuals for the legal and accounting fields. The company earns more than 90% of its revenue in the U.S. but also sells its publications in Canada and Mexico.

Glacier said it was interested in purchasing WPP because it helps diversify its holdings in terms of content and geography. SWP started its publishing business with the acquisition of The Western Producer in 1923.