Pyramid International has purchased a selection of assets and the brand name of The Art Group from its administrators, KPMG.
The Art Group - which went into administration on June 28th - is a publisher of contemporary wall art and greetings cards. Pyramid is now looking to develop the brand, continuing to work with various artists and licences in an ongoing programme of new product development and publishing.
The wall art business will be developed with the help of some of the former employees of The Art Group. The greetings card arm, meanwhile, will be jointly run with Is It Art?, which sells and distributes cards to the majority of UK accounts.
The MD of Is It Art? - Martin Nevin - recently appointed The Art Group's former sales director for greetings cards, John Sutton, to head up sales for the new venture.
The US arm of The Art Group - based in Yonkers, New York - will be supported by Pyramid America. It is hoped that some of the former employees will join the US office to help grow the business in the territory.
"I am extremely pleased at the opportunity to be involved with such a market leading company and hope to be able to develop The Art Group name in both the wall art and greetings card markets at an international level," said Ally Mayer, MD of Pyramid International.