Quad Completes Divestiture of Book Manufacturing Platform With Sale of Last Two Printing Plants
Quad/Graphics, Inc. (“Quad” or the “Company”) today announced that it has sold its two remaining Book manufacturing facilities in Fairfield, Pa., and Martinsburg, W.Va., to Berryville Graphics, a division of Bertelsmann Printing Group USA, a leader in hard cover, mass market, trade and digest books, components and specialty finishing. The transaction closed on Oct. 31, 2020. Quad will use proceeds from the sale to pay down debt.
With this transaction, Quad has completed the full divestiture of its Book manufacturing platform – part of a previously announced strategic decision to optimize its product portfolio. In July, the company sold its only other book manufacturing facility in Versailles, Ky., to CJK Group, Inc.
“Quad is pleased to find two great buyers for our Book business, and we thank our employees in our Book plants for their patience and professionalism throughout the entire sale process,” said Joel Quadracci, Chairman, President & CEO of Quad. “We continue our strategic focus on where we can provide the greatest value to our clients, which is through our unique integrated marketing solutions offering. Clients benefit from increased marketing spend effectiveness because of our ability to reduce the complexities of working with multiple agency partners and our process efficiencies. Truly, we are creating a better way for our clients by integrating strategy, creative and execution across all channels.”
Reinhart Boerner Van Deuren S.C. served as legal advisor to Quad.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.