Badoud Enterprises, Inc., owned by John J. Badoud, Jr. of Virginia, today announced it has signed a definitive agreement to sell the assets of its sole operating unit, The Scotsman Press, Inc., to its current President, William G. Veit.
Incorporated in 1954, Scotsman produces award-winning, community-focused publications and serves hundreds of other publications through its commercial printing services to customers throughout Central New York. The sale of the company to Veit will increase Scotsman’s value to its employees, customers, vendors, and other stakeholders, as the company will become an even more integral part of the CNY community and media market now under the direction of local ownership.
With the change of ownership, Veit’s new company will acquire assets including, The Valley News, Today’s CNY Woman, Finger Lakes Vacationer, and other publications, along with plant equipment, vehicles, and the company’s Chenango Bridge facility. The company will continue to do business as The Scotsman Media Group, maintaining all of its operating divisions in Syracuse, Chenango Bridge, and Fulton, New York, and there are no plans to change the company’s workforce of 96 employees as a result of the transition. Improvements to the company’s information technology systems are presently underway to ensure that Scotsman’s outstanding customer service, quality print media, and advertising solutions to the CNY marketplace will continue.
Veit and his wife, Linda, along with their two daughters, are lifelong residents of Syracuse, residing in the Onondaga Hill area. Veit has been employed by the Scotsman Media Group since 1990. He earned his MBA from Le Moyne College; his wife, Linda, is employed by Upstate Medical University and received her masters in public health from Syracuse University and Upstate.
The transaction is expected to close on March 31, 2014.