454 people work at Covpress but Mr You told ITV News he plans to take on more.
"Our plans are to grow our business through increasing our international profile and penetration into other old markets. The acquisition of Covpress is an important move for us in our overall strategy. We are the equivalent of Michelin in China. We believe this deal represents two strong companies joining together in a win-win situation."
More top news
Heavy and thundery showers will die out in most places during the evening, but may continue near the Humber for most of the night.
Showers will slowly clear overnight. Any mist and low cloud will clear during the morning, leaving bright or sunny spells.
A man who once played for West Brom, Notts County and Lincoln has appeared in court over an alleged match-fixing conspiracy.