Moore Sells Phoenix Group
TORONTO—Moore Corp. has reached an agreement to sell the assets of it Phoenix Group division to Minacs Worldwide.
Terms of the deal were not disclosed. It was scheduled to be completed in September, contingent upon financing and regulatory approval.
“Phoenix is a profitable and niche business,” states Robert G. Burton, president and CEO of Moore Corp. “However, the business does not fit into our announced strategy of focusing our full attention and management resources on growing our print-related assets, cross-selling our product offerings and leveraging synergies among our platform. Minacs is a better long-term strategic custodian for Phoenix.”