Valpak Operation Taken Off the Market
LARGO, FL—Cox Enterprises has had a change of heart and is no longer trying to sell its Valpak direct mail operation here, according to the St. Petersburg Times.
Cox believes Valpak has a bright future due to its venture into various new forms of media that is helping to generate new sources of revenue, the paper said. Its Valpak.com Website has been optimized for mobile phones and an application for the iPhone has been released.
Valpak had constructed a $220 million, highly automated production facility here three years ago, with city and state government providing financial incentives. The company is projecting a 5 percent loss for 2009 and has cut jobs in order to focus on its core mission, the paper reported.
Valpak was founded in 1967. Cox purchased the business from a group of investors in 1991.