Deluxe Corp. Acquires The Johnson Group
ST. PAUL, MN—Check printing specialist Deluxe Corp. has purchased the assets of The Johnson Group, a Rockford, IL-based company that provides Web-to-print, offset and variable data digital printing services, for $16.5 million. The Johnson Group is expected to generate $22 million in revenues in 2006.
Dennis Johnson, chairman and CEO of The Johnson Group, is retiring with the completion of the transaction. The printer, which employs 130, will continue to operate under its current name in Rockford. It also has operations in East Dubuque, IL, and New Albany, IN.
“The Johnson Group’s custom, full-color and digital printing expertise and its emerging Web-to-print technology strategically fits our growth objectives to expand our capabilities and portfolio of products to our small business and financial institution customers,” noted Deluxe CEO Lee Schram.
Deluxe does not expect the acquisition to have a significant impact on diluted earnings per share or operating cash flow for the remainder of 2006.