Open Enrollment | Subscribe to Printing Impressions HERE
Connect
Follow us on
Advertisement
 

Quad/Graphics Completes Acquisition of Worldcolor

July 2, 2010
SUSSEX, WI—July 2, 2010—Quad/Graphics, Inc. is pleased to announce that its acquisition of World Color Press Inc. is complete. The closing follows overwhelming approval by shareholders of both companies as well as final court approval.

“This is a defining moment in our company’s history and for the future of our industry,” said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. “We believe in the power of print in a multichannel media world, and we now have more talent, technology and solutions in more places to better serve our clients well into the future. Our new leadership includes the best and the brightest from both companies, building a unique team of innovative people who will redefine print for the benefit of all our stakeholders.”

The “New Quad” offers a broader variety of product types and revenue-generating solutions; an enhanced manufacturing platform that makes available Quad/Graphics’ industry-leading technology and automation to the combined platform; and an expanded geographic footprint and customer service presence. In addition, the company will realize significant mailing and distribution efficiencies, and offer clients improved speed-to-market and product integrity for USPS-delivered products as well as volume-driven postage savings through programs such as co-mailing.

Based on proforma unaudited revenues of both companies for the 12 months ending March 31, 2010, the newly expanded Quad/Graphics has sales of $4.8 billion. It has approximately 28,000 employees working from more than 80 facilities in North America, Latin America and Europe. Quad/Graphics is now the second-largest provider of print and related multichannel solutions in the Americas.

“Today the New Quad is off to a running start in our quest to redefine print and transform the printing industry,” Quadracci said. “We have a comprehensive plan designed to smoothly integrate the two companies’ operations while ensuring that our customers continue to receive top-quality, on-time services. We are keenly focused on achieving the synergies that make this transaction so compelling for our shareholders. However, our plans don’t stop there. We expect to advance all aspects of our business through technology and innovation.”

“Quad/Graphics has had five months to plan this integration and is better prepared than any team with which I've been associated over the years,” stated Mark Angelson, former Chairman and CEO of Worldcolor, who continues on with Quad/Graphics as a member of the Board of Directors. “Harry Quadracci would be beaming with pride, as I am, at having passed the torch of leadership to such a remarkable group. They bring to this acquisition a seamless will to win, the best technology and the clearest strategic vision that I have seen. With Joel Quadracci at the helm, surrounded by the best of the best from these two great companies, Quad/Graphics should go from strength to strength, and all of our constituent groups will benefit.”

As part of this transaction, Quad/Graphics will enter a new era as a publicly traded company. Quad/Graphics’ class A common stock will be listed on the New York Stock Exchange (NYSE) under the symbol QUAD, starting on July 6, 2010. To mark the occasion, Chairman, President & CEO Joel Quadracci will lead Quadracci family members and Quad/Graphics leaders in ringing The Opening Bell on July 7, 2010, at 9:30 a.m. ET.

Pursuant to the arrangement agreement, each Worldcolor common share will be converted into the right to receive 0.2154 shares of class A common stock of Quad/Graphics. In addition to share consideration, holders of Worldcolor common shares, including the 13,687,826 Worldcolor common shares to be issued upon conversion of the Worldcolor preferred shares, will receive cash consideration of U.S. $48,405,658.83 in the aggregate (approximately U.S.$ 0.56 per share) upon completion of the arrangement.

Worldcolor preferred shareholders who elected redemption will receive cash consideration of approximately U.S.$ 8.86 per share upon completion of the arrangement.
 
About Quad/Graphics
Quad/Graphics (www.QG.com) is a global provider of print and related multichannel solutions for consumer magazines, special interest publications, catalogs, retail inserts and circulars, direct mail products, books and directories. Headquartered in Sussex, Wis., (just west of Milwaukee), the company has approximately 28,000 employees working from more than 80 locations throughout the United States, Canada, Latin America and Europe. As a printing industry innovator, Quad/Graphics is redefining the power of print in today’s multimedia world by helping its clients use print as the foundation of multichannel communications strategies to drive their top-line revenues.

About Worldcolor
Worldcolor is an industry leader in providing high-value and comprehensive print, digital and related services to retailers, catalogers, publishers, branded-goods companies and other businesses worldwide. Founded in 1903, Worldcolor's products include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics and mail list technologies. During its century-long existence, Worldcolor has had a rich tradition of leadership and excellence. Its employees are focused on helping customers meet their needs from facilities located in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico and Peru. More information about Worldcolor can be found on its website at www.worldcolor.com.
 

Companies Mentioned:

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: