St Ives to sell its mag printing arm

PUBLISHING company St Ives has agreed to sell its magazine printing business - which counts Time Out, Vogue and the Economist among its clients - to the owner of rival Wyndeham Press for £20 million.

St Ives has agreed the sale of its loss-making magazine division - which also prints Look, Sainsbury's Magazine and music mag NME - to Wyndeham's private equity owner Walstead Investments.

Walstead was set up in 2008 to buy Wyndeham, which prints magazines including Marie Claire, Waitrose Food Illustrated and Zoo.