Navneet buys Spainish publishing firm

Chaplin Disenos S L, a wholly-owned subsidiary of Navneet Publications in Spain, has acquired the publishing business and brand name of Grafalco for a sum of euro 4,59,000.

According to a release issued to the BSE, Grafalco, a children's book publishing company, publishes different kinds of colouring books, sticker books, activity books and story books.

Grafalco had average annual revenues of euro 2 million in the last three years, the release added.