Presstek Bids for A.B.Dick
NILES, IL—A.B.Dick Co. announced it had filed for Chapter 11 bankruptcy protection. Soon after the announcement, Hudson, NH-based Presstek Inc. unveiled a detailed plan to acquire the business and assets of the company through a U.S. Bankruptcy Code section 363 asset sale, a deal valued at approximately $40 million. Presstek President and CEO Edward Marino stressed that there was no guarantee his company would be successful in the open bidding environment of a bankruptcy proceeding.
Bowne's Johnson Retires
NEW YORK CITY—Bowne & Co. announced the immediate retirement of Robert M. Johnson from the company and its board of directors for personal reasons. Johnson had been serving as chairman, president and CEO. The board has appointed H. Marshall Schwarz, currently chairman of the executive committee, to serve as non-executive chairman of the board and Philip E. Kucera, currently senior vice president and general counsel, assumes the role of interim CEO.
Cenveo Acquires Valco Graphics
ENGLEWOOD, CO—Seattle-based web and sheetfed printer Valco Graphics has been acquired by Cenveo, formerly known as Mail-Well. Compass Capital Partners represented the selling shareholders of Valco in the deal. Compass also announced it had represented the interests of Western Graphics & Data, a Portland, OR, manufacturer of plastic cards and wide-format point-of-purchase printing, in its sale to an undisclosed party.
Donnelley Shutters Facility
TONAWANDA, NY—A former Colorforms plant that came to RR Donnelley in its acquisition of Moore Wallace has closed. The shutdown cost 85 employees their jobs. The facility produced credit card forms.
Transcontinental Unit Expands
MONTREAL—Transcontinental Media, the publishing unit of Transcontinental Inc., has acquired Avid Media, which produces four titles with a combined readership of 6.3 million. Avid Media publishes Canadian Gardening, Canadian Home and Country, Canadian Workshop and Outdoor Canada. The deal augments Transcontinental's standing as the top publisher of consumer magazines in Canada based on the number of titles published, total number of readers and advertising pages sold.