We’ve just learned that the newspaper division at Berkshire Hathaway has sold off its direct mail marketing company.
The division, known as BH Media Group of Omaha, just sold its business World Marketing Inc. to renowned businessman Robert M. Kraft and an investment group. The company has sold for an undisclosed amount. Berkshire Hathaway owns BH Media, and is based out of Omaha and run by Warren Buffett, who also happens to own the Omaha World-Herald
The president and CEO of BH Media, Terry Kroeger, said in a statement on Tuesday that world marketing was “no longer a core part of our business as our focus accelerated on newspapers.”
The corporate headquarters and administrative operations of the company are going to move from La Vista to Milwaukee. Overall, the production facilities and main offices will remain in Atlanta, Chicago, St. Louis and Dallas. The company currently has 450 employees.
World Marketing continues to process around 1 billion pieces of mail each year for its clients, including Blue Cross Blue Shield, Bristol-Myers Squibb, American Airlines and Kraft Foods.
Joe Ewers, whose family, in 1974, started the company, said that the new owners are going to bring “experience and additional product offerings which add incredible value to our current customers and clients as well as position us as a company to expand operations.”
Ewers is currently based in Dallas and listed as the president of the company, while Kraft is listed as the CEO.
In Milwaukee, Associated Bank is going to finance this purchase.