Graham Holdings Company (NYSE:GHC) today announced it has acquired Framebridge, Inc., a custom framing service company. The purchase price was not disclosed.
"We are excited to have Framebridge become a part of GHC. 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. Susan (Tynan) and the team have re-invented the category and we’re excited to provide a home for Framebridge to grow,” said Timothy J. O’Shaughnessy, chief executive officer of Graham Holdings Company.
Graham Holdings Company previously disclosed a minority investment interest in Framebridge, and Mr. O’Shaughnessy served as chairman of the board.
Susan Tynan, founder and chief executive officer of Framebridge, Inc., said, “We are thrilled to have the confidence of Graham Holdings Company to take our business to the next level. Their long-term orientation aligns with our vision and affords us strategic clarity in shaping the future of Framebridge. The team and I are looking forward to continuing to build our platform under the Graham Holdings umbrella.”
Framebridge is headquartered in Washington, DC, and has two retail locations in the greater metropolitan area, in addition to a manufacturing facility in Richmond, KY.
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