Freeman to Buy Stake in Medical Arts Press

Freeman Spogli & Co., a closely held investment firm based in Los Angeles, agreed to acquire a majority stake in Medical Arts Press Inc. in a buyout with management valued at $277 million. Freeman Spogli would own about 70% of Minneapolis-based Medical Arts, which makes, distributes and sells office products and supplies to health-care professionals through catalogs and targeted mailings. The acquisition, expected to close next month, would help the privately held company expand its business. Medical Arts had $118 million in sales in the 12 months ended in September. Freeman Spogli invests in retail, direct-marketing and service businesses. Medical Arts employs about 600.