Kennedy publishes a portfolio of 25 different magazines, with annual copy sales close to 4 million, says Claverley Group.
The investment will see Kennedy Publishing, the company under which Kennedy Enterprise Ltd trades, continue to operate from its current base in Wick, near Bristol.
The agreement with Claverley has been made with a view to support the further growth of the business.
Dean Barber, circulation director of the Claverley-owned Midland News Association, has been appointed as managing director of Kennedy Publishing.
Dean will work alongside the current shareholders of the business, Joanne and Paul Kennedy.
The Claverley Group comprises of MNA, publisher of the Express & Star and Shropshire Star; the Guiton Group, which owns Jersey Evening Post and Guernsey Press; commercial print company Precision Colour Printing; and publishing software company Press Computer Systems.
Claverley Group CEO Phil Inman said: “We are delighted to confirm our investment in a growing business and look forward to working with the current shareholders to support the development of the portfolio of titles over the coming years.
“The deal shows Claverley’s commitment to print and will further grow our portfolio of businesses.”
Paul Kennedy said: “Claverley is well known to us through our longstanding relationship with Precision Colour Printing. We welcome the opportunity to draw upon its strengths while continuing to increase our range of quality magazines.”