Moore Announces Agreement To Acquire The Nielsen Company
Press release from the issuing company
TORONTO & STAMFORD, Conn.-Jan. 14, 2001--Robert G. Burton, President and Chief Executive Officer of Moore Corporation Limited announced today that the company has entered into an agreement to acquire privately held The Nielsen Company. As one of the largest commercial printers in the Midwestern and Southeastern United States, Nielsen had revenues of approximately $90 million in 2001. The transaction is expected to be completed in the next few weeks and to be accretive to earnings. Terms of the transaction were not disclosed.
Nielsen operates from three state-of-the-art facilities located in Florence, KY; Raleigh-Durham, NC; and Cincinnati, OH. The 730-employee company has a reputation as a customer-focused quality-driven organization with a successful 75-year operating history. Specializing in producing high quality commercial printing, Nielsen's product line includes annual reports, brochures, catalogs, pharmaceutical inserts, and marketing and promotional material. Nielsen's premiere customer base includes numerous Fortune 500 companies in the consumer products, pharmaceutical and financial services industries.
Mr. Burton stated:
"I stated when we first arrived at Moore a year ago, that we needed to be a stronger participant in the highly fragmented $70 billion North American commercial print market. The acquisition of The Nielsen Company creates a platform for us to offer a commercial print capability to our customers while simultaneously providing Nielsen's existing customers with the opportunity to benefit from Moore's core products and services.''
S. Christian Nielsen III, Chairman of The Nielsen Group stated:
"As a leader in the commercial print market, the Nielsen family is very proud of the strong reputation for excellence that has been developed over the past 75 years by the dedication and talent of our employees. The combination of Moore and Nielsen creates the opportunity for us to better serve our customers and allows us to offer them Moore's extensive range of products and services. We are looking forward to becoming the flagship of Moore's commercial printing platform.''
Mr. Burton concluded:
"We continue to execute on the plan we initiated when we came to Moore. With the acquisition of The Nielsen Company, we continue to deliver on our commitment to grow the company both organically and through thoughtful, strategic acquisitions of quality companies in higher growth sectors of the printing marketplace. We feel that this addition to Moore will provide significant opportunities for Moore to capture incremental sales from new customers through our ''one stop" approach to servicing customers. I look forward to a swift completion of this transaction and to officially welcoming The Nielsen Company to the Moore family.''
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