Visant Makes Deal for Phoenix Color
ARMONK, NY—Visant Corp., headquartered here, has agreed to pay $219 million to acquire Phoenix Color of Hagerstown, MD. A book component manufacturer serving the professional reference and education segments, Phoenix Color will operate as a wholly owned subsidiary of Visant.
Phoenix Color also has a facility in Rockaway, NJ. The all-cash deal, which is subject to customary closing conditions, is expected to be completed by the end of the first quarter.