Mail-Well Announces Sale of Mail-Well Label Division
Thursday, May 23, 2002
ENGLEWOOD, Colo., May 22 -- Mail-Well, Inc. announced today that it has consummated the sale of its Mail-Well Label division for an undisclosed amount. The purchaser is Renaissance Mark, a privately held company owned by Greg Mosher and Arsenal Capital Partners, based in Denver, CO. "The sale of our label division is a key step in the implementation of our strategic plan, narrowing our lines of business and reducing our debt load," said Paul Reilly, Mail-Well's chairman, president and CEO. "We have been very impressed by the enthusiasm and commitment Greg Mosher has shown for the label business, and we are delighted that this purchaser represents such an exciting opportunity for the customers, management and employees of the label division. We expect to maintain a valuable strategic relationship with Renaissance Mark in the printing business going forward." Mail-Well, until 2001, had specialized in four growing multibillion-dollar market segments in the highly fragmented printing industry: commercial printing, envelopes, labels and printed office products. Following the sale of the label division, Mail-Well has approximately 11,000 employees and more than 85 printing facilities and numerous sales offices throughout North America. The previously announced strategic plan will result in the company concentrating on its Envelope and Commercial Print segments, where already it holds leading positions. These segments achieved sales of $1.6 billion in 2001. The other segments have been or will be exited. The company is headquartered in Englewood, Colorado.