Blue Star looks forward from horror accounts

Mon, 14 Jan 2013

By Pam Graham Jan 14 (BusinessDesk) – The former owners of Blue Star Group have swallowed a $173 million goodwill write-off and don’t look to be getting much from the sale of assets as the Australasian printing company is broken up. But the future of New Zealand’s largest commercial printer has been secured with the sale of the business to Australian private equity firm Mercury Capital and its former owner, Nelson-based businessman Tom Sturgess. He sold 84 percent of the group to offshore investors CHAMP Private Equity in 2006 for $385 mill...

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