Allegra Network LLC To Acquire Signs Now Corporation
Thursday, January 20, 2005
Press release from the issuing company
Northville, Mich. – Allegra Network LLC, one of the world’s leading print and graphic communications franchisors, has signed a purchase agreement to acquire the assets and franchise agreements of one of the world’s largest sign franchises, Signs Now Corporation. The joint announcement was made by Allegra Network Chairman and CEO William McIntyre and President and COO Carl Gerhardt at the company’s headquarters in Northville, Michigan. The acquisition is expected to close January 31, 2005.
Allegra Network, founded in 1976, has more than 400 locations in the United States, Canada and Japan with system-wide sales of $265 million (2004). The company’s primary brands include Allegra Print & Imaging, American Speedy Printing Centers and Insty-Prints.
Signs Now, founded in 1983, has more than 240 locations in the United States, Canada, the United Kingdom and Brazil with system-wide sales of more than $70 million (2004). Signs Now will continue to be headquartered in Bradenton, Florida, and will become the sign division of Allegra Network. Certain administrative functions will be moved to Allegra Network’s corporate headquarters and printing division in Northville, Michigan, but operational support for Signs Now franchise members will continue to be provided from Bradenton.
McIntyre commented, “The acquisition of Signs Now represents a significant step forward enabling us to provide expanded services to our market. Under Carl’s leadership, we look forward to continued aggressive implementation of our strategic plans for long-term growth.”
Gerhardt added, “We are proud to have grown Allegra Network to what it is today – an established industry leader, providing print communications and graphics services to businesses. The acquisition of Signs Now is a strategic move in the expansion of our services and another step in fulfilling our vision, ‘To build a progressive network of the best graphic communications providers in North America. The emergence of digital technology in the graphic arts industry creates unique cross-over synergies among our printing brands and the sign industry. We are a business to business franchise network. This acquisition strengthens our platform for further expansion as total solutions providers.”
Both Allegra Network and Signs Now look forward to the future benefits that will come from combining these two successful franchise companies.
Steve White, Allegra Network executive vice president commented, “We are very excited about the new opportunities this acquisition offers for current and prospective franchise members of both organizations. Allegra Network and Signs Now franchise members will benefit from a greater presence as a larger network, as well as increased buying power and resources.”
In addition, the acquisition creates advantages for their customers and the communities they serve. From concept to finish, digital and traditional printing to large format services, all will be offered at Allegra Network. Signs Now current CEO Mike Etchieson added, “Allegra Network possesses a deep commitment to providing their franchise members with the instrumental tools to enhance and grow their businesses. They have the resources and support to truly take Signs Now to the next level.”
This is the fourth acquisition Allegra Network has completed in the last 10 years. In 1995, the company acquired Zippy Print, a Canadian franchise printing company with 37 locations. In 1998, Allegra Network acquired the franchise agreements of 24 Quik Print and Instant Copy centers from XYAN, Inc. and in 2002, the company acquired the assets and franchise agreements of Insty-Prints, Inc., with 210 locations. In addition to its corporate acquisitions, Allegra Network has helped its franchisees complete more than 140 acquisitions in their local markets, attributing to more than $43 million in incremental sales. Signs Now is one of the world’s largest providers of indoor and outdoor signage, exhibit displays and large-scale graphics. A pioneer in the sign industry as the first sign franchise,
Signs Now provides an array of sign solutions from creative concept to final production of high-impact, professional signs, banners and other visual communications tools to businesses worldwide. The company is privately-owned.
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