Graham Holdings Co. acquires custom framing company
Financial terms were not disclosed in Framebridge Inc. deal.
Financial terms of the transaction were not disclosed.
Graham Holdings Co. is the family company of the late Katharine Graham, who was the publisher and owner of The Washington Post. Its current holdings include online magazine Slate, digital marketing company SocialCode LLC, a group of seven television stations and higher education company Kaplan Inc. The company also holds Graham Media Group, which was formerly the Post-Newsweek Stations.
“We are excited to have Framebridge become a part of GHC,” Grahams Holding Co. CEO Timothy J. O’Shaughnessy said in a statement. “We believe Framebridge can become the industry leader in custom framing, as its model of lower prices, faster service and great quality is a trifecta that is hard to beat.”
The company previously disclosed a minority investment in Framebridge, and O’Shaughnessy served as its chairman of the board.
“We are thrilled to have the confidence of Graham Holdings Co. to take our business to the next level,” Susan Tynan, founder and chief executive officer of Framebridge, said in a statement. “Their long-term orientation aligns with our vision and affords us strategic clarity in shaping the future of Framebridge.”
Founded in 2014, Framebridge has two retail locations in the Greater Washington, D.C. area, and its manufacturing facility is located in Richmond, Kentucky. During the coronavirus pandemic, however, its manufacturing facility has pivoted to produce personal protective equipment. “Our operations team designed an innovative new face shield using the acrylic we traditionally use on the front of frames, intended to be worn over masks, glasses and other PPE,” the company announced mid-April. It also continues to take custom framing orders online.