Quad-Worldcolor Deal Gets Canadian Blessing
MONTREAL—The Canadian Minister of Industry has granted approval under the Investment Canada Act for the proposed acquisition of Worldcolor by Quad/Graphics, of Sussex, WI. The deal, which will be effected by plan of arrangement under the Canada Business Corporations Act, is subject to customary closing conditions for transactions of this type, including receipt of court and shareholder approvals.
If all necessary approvals are obtained and the conditions to the completion of the deal are satisfied or waived, it is expected that the transaction will be completed in the early summer of 2010.
In other news, Worldcolor has signed a multi-year extension agreement with Kensington Publishing to continue producing millions of mass-market paperback books for the New York-based publisher. Through its Kensington, Zebra, Pinnacle and Citadel press imprints, Kensington Publishing releases close to 500 new books per year, with its mass-market line emphasizing romance, thrillers, westerns and mysteries.
The new agreement includes additional work in the form of highly decorative cover treatments that have transformed the look and feel of paperback mass-market books in recent years. Worldcolor’s foil stamping, embossing, specialized ink and coating operations will be used to enhance the visual impact and appearance of Kensington covers.