Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 

Quad/Graphics Completes Acquisition of Vertis

January 21, 2013
Get the Flash Player to see this rotator.
 
Quad/Graphics, Inc. (NYSE: QUAD) ("Quad/Graphics") announced on Jan. 16 that it has completed its acquisition of substantially all of the assets of Vertis Holdings, Inc., for a net purchase price of $170 million. This assumes the purchase price of $267 million less the payment of $97 million for current assets that are in excess of normalized working capital requirements. Quad/Graphics used cash on hand and drew on its revolving credit facility to finance the acquisition.

The Company expects the acquisition of Vertis to strengthen and expand its client offering with:

  • An enhanced range of products, services and revenue-generating solutions;
  • Expanded industry vertical expertise;
  • Increased manufacturing flexibility and distribution efficiencies from an extended geographic footprint; and
  • New opportunities to help clients realize mailing and distribution cost-savings from the combined volumes and capabilities of the two companies.

"We are excited about our acquisition of Vertis and the opportunities it brings to advance our business and create value for our clients, employees and shareholders," said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. "We have strengthened our retail ad insert, direct marketing and in-store marketing solutions, and have expanded our support services to include media planning and placement, and marketing services. With more talent and broader solutions, we are better positioned than ever to drive business results for our clients."

Vertis generated an estimated $1.1 billion in revenues in 2012 and approximately $55 million in annual EBITDA on an unaudited basis, adjusted for restructuring, impairment and other transaction-related expenses. The combined company will employ approximately 25,000 employees from more than 70 print-production facilities in North America, Latin America and Europe.

Gerald Sokol, Jr., Chief Executive Officer of Vertis, said: "We have had the opportunity to work very closely with Joel Quadracci and his team over these last several months in planning a successful integration. More than ever, we are convinced that this combination represents the best possible outcome for our customers, employees and other stakeholders."

"We are excited to begin our work as an expanded company and build on our long-standing commitment to take print to a higher level," Quadracci said. "Print has power in today's multichannel world and we know how to leverage that power to make print perform better than ever."

Notes Regarding Forward-Looking Statements
To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook, and can generally be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe," or "continue," or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

 

Companies Mentioned:

SPONSORED CONTENT

MORE ON PRINT PRODUCTION & FULFILLMENT >>

FROM THE BOOKSTORE

From essential overviews to how-to-search skills, this practical book gives development officers the tools to understand how to use prospect research in ways that best fit their goals for each stage of the fundraising cycle.Provides practical insight to understand the best use of each prospect research tool and techniqueFeatures a companion website with a variety of online tools to help readers implement key conceptsPart of the AFP Fund Development Series Prospect Research for Fundraisers: The Essential Handbook

From essential overviews to how-to-search skills, this practical book gives development officers the tools to understand how to use prospect research in ways that best fit their goals for each stage of the fundraising cycle.Provides practical insight to understand the best use of each prospect research tool and techniqueFeatures a...

ORDER NOW

Is fundraising fun for you? Are your board members beating down your door with new donors that are ready to make a gift? If that’s not your reality yet, Ask Without Fear! by author, speaker, and fundraising expert Marc A. Pitman is for you!In plain English, Marc:Reveals how to take the fear out of asking for – and getting – large gifts!Explains in a step-by-step, easy to remember process how to building authentic relationships with your donors – and help them connect with your cause in the way that matters most to them!Identifies time-tested research tools to help you plan your fundraising campaign and get to know your donors, and more! Ask Without Fear!

Is fundraising fun for you? Are your board members beating down your door with new donors that are ready to make a gift? If that’s not your reality yet, Ask Without Fear! by author, speaker, and fundraising expert Marc A. Pitman is for you!In plain English, Marc:Reveals how to take the fear out...

ORDER NOW

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: