Kelsey Report® Advisory
Yellow Book USA Acquires Prime Independent Asset in Feist
Charles Laughlin , 3/29/2004
Group, parent company of Yellow Book USA, has acquired one
of the crown jewels of the U.S. independent directory market.
The acquisition of Wichita, Kansas-based Feist Publications
gives Yellow Book USA access to a number of central and southwestern
U.S. markets, and to the well-developed operation that family-owned
Feist has built up since its founding by Tom and Roberta Feist
more than 25 years ago in Spearville, Kansas.
publishes 20 directories in Kansas, Oklahoma, Missouri and
Texas, with distribution of four million. The publisher has
272 employees and generated 2003 revenues of US$63 million.
Yellow Book has made a commitment to retain all of Feist's
current staff. With the acquisition of Feist, The Kelsey Group
estimates Yellow Book's revenues at roughly US$800 million.
Terms of the acquisition were not disclosed. TKG estimates
that Yell Group paid in the range of US$150 million for the
independent directory publisher. Yell expects to close the
acquisition within a week.
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