Classic Deal: Belk Printing Acquired
CHARLOTTE, NC—Classic Graphics has acquired Belk Printing Technologies for an undisclosed sum, creating what is said to be the largest privately owned commercial printing company in the Carolinas.
David Pitts, co-owner of Classic Graphics, sees the acquisition as a good fit. “Classic Graphics has enjoyed tremendous organic growth during 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, 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.
Ralph Belk Jr., president and co-owner of Belk Printing Technologies, echoed Pitts’ enthusiasm. “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, who will assume the role of managing partner in the combined company, also anticipates retaining existing Belk clients. “They will have access to a wider and more sophisticated offering of services, including the integration of data, brand assets, print and logistics.”
As previously announced, Classic Graphics is moving during the first quarter of 2011 to its new, 180,000-square-foot facility in Innovation Park, part of the former IBM complex.