Cenveo Swings Deal for ColorGraphics
STAMFORD, CT—Looking to solidify its West Coast commercial printing operations, Cenveo Inc. has signed a definitive agreement to acquire ColorGraphics of Los Angeles. Terms of the deal, which is expected to be completed in July, were not disclosed.
ColorGraphics, a full-fledged commercial establishment with facilities in San Francisco, Seattle and Orange County, CA, as well as Los Angeles, ranked 48th on the 2006 Printing Impressions 400 with $147.25 million in annual revenues. A statement from Cenveo pegged ColorGraphics’ current sales total at roughly $170 million.
Bob Burton, chairman and CEO of Cenveo, sees the acquisition as an optimal fit. “We continue to execute on our plan to make strategic and thoughtful acquisitions of high-quality, niche companies in high growth areas of the printing industry,” he said in a statement.
ColorGraphics President Chris Madison will remain with the company following the closing of the transaction.