COLUMBIA — The owners of The Add Sheet sold the publication’s name and trademark Tuesday to two Columbia businessmen.
Jan and Larry Grossmann sold the business to Jake Sheafer and Jamie Canine, owners of Modern Media Concepts LLC.
The Add Sheet is about the size of a magazine but features only advertisements, mostly through coupons. The publication, headquartered at 700 Cherry St., is distributed by hand on the MU campus and offered in racks throughout town.
Larry Grossmann started The Add Sheet in 1969 as a project while he was a student at Southeast Missouri State University. Since he established The Add Sheet in Columbia in 1971, the business has grown from publishing 16 times each year to 52 times each year. More than 26,000 copies are distributed every week during the school year in Columbia. The Add Sheet is also available online and has more than 400 subscribers who receive the publication through a weekly e-mail.
The Grossmanns had been approached several times by eager buyers, but Larry Grossmann said Sheafer and Canine were different.
“Jake Sheafer just impressed us. He has a tremendous amount of energy and knowledge in the advertising business,” he said, “We thought long and hard before we trusted our advertisers and readers to someone new. I think they will help it to grow and prosper, and we’re excited to watch it grow.”
Sheafer and Canine decided they wanted to buy a business together after becoming friends from a previous business transaction. After they hired broker Jeff Guinn, Guinn went to the Grossmanns to discuss The Add Sheet, which wasn’t for sale at the time.
“Jaime and I are honored and humbled to be the ones that ended up with it,” Schaefer said. “Larry and Jan could have sold it to numerous people throughout the years. It was a real honor, and we’re still in shock.”
The Add Sheet has several long-time advertisers.
Kim Humphries, of Columbia Photo, which opened in 1968, said they have been advertising with The Add Sheet for “years and years.”
“We like the fact that it goes to all the college kids for sure,” he said. “We see a lot of those coupons come in. I think with the constant flow of students and faculty, it’s great when you can get your business out to them.”
Shakespeare’s Pizza has also benefitted from The Add Sheet throughout the years, said manager Kurt Mirtsching.
“I’ve been here 29 years, and we’ve been advertising with them since before I got here. We get a lot of coupons back, and I think it has a definite impact on the bottom line. We’ve been in it for so long that people expect to see our coupons.”
Although The Add Sheet has new owners, Sheafer said they’re not planning to make any changes.
“Larry and Jan have been very successful over the past 38 years,” he said. “Along the way they developed some systems that really work throughout the country. We plan to keep all the employees and stay in the same location.”