Quad/Graphics Completes Acquisition of Worldcolor
(Press Release) SUSSEX, WI--(July 2, 2010) — Quad/Graphics, Inc. ("Quad/Graphics") is pleased to announce that its acquisition of World Color Press Inc. ("Worldcolor") is complete. The closing follows overwhelming approval by shareholders of both companies as well as final court approval.
"This is a defining moment in our company's history and for the future of our industry," said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. "We believe in the power of print in a multichannel media world, and we now have more talent, technology and solutions in more places to better serve our clients well into the future. Our new leadership includes the best and the brightest from both companies, building a unique team of innovative people who will redefine print for the benefit of all our stakeholders."
The "New Quad" offers a broader variety of product types and revenue-generating solutions; an enhanced manufacturing platform that makes available Quad/Graphics' industry-leading technology and automation to the combined platform; and an expanded geographic footprint and customer service presence. In addition, the company will realize significant mailing and distribution efficiencies, and offer clients improved speed-to-market and product integrity for USPS-delivered products as well as volume-driven postage savings through programs such as co-mailing.
Based on proforma unaudited revenues of both companies for the 12 months ending March 31, 2010, the newly expanded Quad/Graphics has sales of $4.8 billion. It has approximately 28,000 employees working from more than 80 facilities in North America, Latin America and Europe. Quad/Graphics is now the second-largest provider of print and related multichannel solutions in the Americas.
"Today the New Quad is off to a running start in our quest to redefine print and transform the printing industry," Mr. Quadracci said. "We have a comprehensive plan designed to smoothly integrate the two companies' operations while ensuring that our customers continue to receive top-quality, on-time services. We are keenly focused on achieving the synergies that make this transaction so compelling for our shareholders. However, our plans don't stop there. We expect to advance all aspects of our business through technology and innovation."