Classic-Belk Deal Storms Through Carolinas
CHARLOTTE, NC—Classic Graphics has acquired Belk Printing Technologies for an undisclosed sum, reportedly creating the largest privately owned commercial printing company in the Carolinas.
David Pitts, co-owner of Classic Graphics, sees the acquisition as a good fit for both companies. “Classic Graphics has enjoyed tremendous organic growth over our 27-year history. Combining operations with a prominent and successful company like Belk Printing will help us sustain, and hopefully extend, our growth ambitions.”
While Pitts did not reveal financial terms of the transaction, he stated that projections for 2011 indicate a 20 percent growth in sales as a result of the acquisition. Sales figures for 2010 topped out at nearly $40 million; he expects sales for 2011 to reach close to $50 million.
“The cultures and visions of our two companies are virtually identical,” Pitts said. “We share a philosophy of providing highly responsive and flexible service to our customers.”
Ralph Belk Jr., president and co-owner of Belk Printing Technologies, echoed Pitts’ enthusiasm for the acquisition. “When my father started Belk Printing in Charlotte in 1968, he began a tradition of craftsmanship and dedication to customer satisfaction that we have constantly sought to uphold," Belk said. "Blending the strengths of our company with those of Classic Graphics, one of the premier names in our industry, makes perfect sense for us and our customers.”
Belk, who will assume the role of managing partner in the combined company, anticipates retaining existing Belk customers, which he feels is attributable to Classic Graphics' reputation. “This is a great move for our customers,” he added. “They will have access to a wider and more sophisticated offering of services, including the integration of data, brand assets, print and logistics. I have made a personal pledge to our customers that we will do everything in our power to make the transition seamless.”