UNIONDALE, NY - (March 25, 2004)- Yellow Book USA announced today that it has signed a definitive agreement for the purchase of the yellow pages telephone directories published by Feist Publications, Inc., the fifth largest independent publisher of telephone directories in the nation. Feist is headquartered in Wichita, Kansas. This acquisition will expand Yellow Book's footprint in Oklahoma and Kansas and will give the company a presence in Texas for the first time. The closing of the transaction is expected to occur within a week.
With the addition of the Feist directory business, Yellow Book will now publish over 500 yellow pages directories in 42 states and the District of Columbia. By providing more buying information and consumer-friendly features such as restaurant menus, maps and coupons, Yellow Book drives consumer usage and offers businesses a reliable, cost-effective alternative to telephone company yellow pages directories.
"Businesses deserve the opportunity to advertise in a yellow pages directory that is affordable and effective," said Joe Walsh, Chief Executive Officer of Yellow Book USA. "Independent directory publishers like Yellow Book and Feist know how to deliver the value businesses want while providing consumers with the buying information they need. We're excited to have the chance to leverage Yellow Book's national brand, product expertise and resources in the regions Feist has served so well over the years as we continue to take on the monopoly utility publishers," said Walsh.
"Feist is an outstanding family-run business that has consistently delivered great products, so we're very pleased with this opportunity. Together we have the ability to deliver an even more competitive directory to the market," Walsh continued.
Roberta Feist, Chief Executive Officer of Feist Publications, Inc. added, "Yellow Book is an industry leader with incredible momentum and a company that has demonstrated its skill and deep understanding of the directory business time and again, in region after region. We are delighted with the potential to become a part of this exceptional organization. Since Feist and Yellow Book share common values, we couldn't be more thrilled with the outcome."
Feist, headquartered in Wichita, Kansas, is the fifth largest independent publisher of telephone directories in the United States, publishing 20 directories with a circulation of 4 million in Oklahoma, Kansas, Missouri and Texas. Its staff of 272 will remain with Yellow Book.
About Yellow Book
Established in 1930, Yellow Book USA is the oldest and largest independent yellow pages publisher in the nation. In recent years, Yellow Book has made a number of strategic acquisitions and entered scores of new markets. With this latest acquisition, Yellow Book will publish over 500 directories in 42 states, plus the District of Columbia with a circulation of over 60 million.
About Feist
Established in 1977, Tom and Roberta Feist started Feist Publications, Inc. out of their living room in Spearville, Kansas. With the help of their six children, they have made Feist one of the most successful non-utility telephone directory publishers in the Midwest. The company currently distributes 20 directories to parts of Kansas, Missouri, Oklahoma, and Texas. In addition to the Wichita headquarters, there are also offices in Spearville (Kansas), Lubbock (Texas), Oklahoma City and Kansas City.