Wise Business Forms Acquires Certain Assets of CFC Print Solutions
Press release from the issuing company
Transaction Expands Wise’s Medium-Run Manufacturing Capabilities and Product Offering
ATLANTA, GA, Jan 2 – Wise Business Forms, Inc., a leading independent manufacturer of business forms and related products and services, today announced that it had acquired substantially all of the assets of CFC Print Solutions’ Greenville, SC medium-run plant. Terms of the transaction were not disclosed.
The Greenville operation will be integrated into Wise’s growing network of manufacturing facilities and operated, as is the case with existing plants, autonomously with corporate and administrative support. Greenville’s employee base will remain in tact and its customers will continue to receive the same quality products and service. The acquisition increases Wise’s annual revenues to almost $50 million and enhances the company’s medium-run manufacturing capabilities as well as strengthening its foothold in the Southeast.
CFC’s decision to sell the Greenville facility and exit the medium-run market reflects CFC’s heightened focus on its short-run printing business. CFC retains its short-run plants and will continue to invest in technology and product solutions to expand within that segment of the market.
"We are very excited about serving a new customer base not currently serviced by our Alpharetta, GA plant. During the last two years, we have aggressively built the company’s infrastructure to support our strategy to become the leading innovative provider of printed products and services to the independent segment of the business forms market," said Bill Prettyman, President and CEO. "This acquisition is an important step in achieving our goal and will benefit our customers and associates by expanding our geographic scope and product offering and providing significant synergistic opportunities."
Bill Prettyman added, "The Greenville plant is a well-run, highly respected operation with strong potential. Wise is committed to investing in the people and equipment required to accelerate Greenville’s growth and fully capitalize on the plant’s proven foundation."
Wise Business Forms, Inc. is 30-year-old manufacturer of business forms selling exclusively to distributors through four facilities throughout the Eastern half of the U.S. Wise specializes in snap apart, continuous and cut sheet products primarily in the short to medium-run markets. The company intends to continue its acquisition program by aligning itself with quality organizations that have strong management, consistent profitability, complimentary service offerings and/or recognized local and regional presence.
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