MONTREAL, QUEBEC--Transcontinental Group today announced that it has acquired the O'Keefe Group's Montreal andToronto printing plants that specialize in high-end commercial sheetfed printing. Founded in 1968, the O'Keefe Group employs about 200 people and posted sales of $33 million in 2001. The Montreal and Toronto plants serve a high-end and diversified clientele of financial institutions, pharmaceutical companies and many well-known design and advertising agencies. Transcontinental can now boast the most important sheetfed printing network in Canada, with plants in Quebec City, Montreal, Toronto and Winnipeg.
"In the printing industry, the O'Keefe name is synonymous with top-quality production and outstanding customer service, and I am proud to now count this prestigious group as a member of the Transcontinental family,'' said Remi Marcoux, Chairman of the Board and CEO of Transcontinental Group. "This company, founded by Timothy M. O'Keefe, can attribute its success to the intuition of its managers, the skill and dedication of its employees, and its state-of-the-art equipment. I am particularly pleased that Brian, the founder's son and president of the O'Keefe Group, has agreed to stay on with us and participate in the continued development of his company.''
"This acquisition is an important step in Transcontinental's goal of developing a pan-Canadian network of sheetfed printing plants,'' continued Mr. Marcoux. "We are establishing ourselves in the Toronto area in a convincing manner, while simultaneously consolidating our position in the Montreal market. The Toronto plant enjoys a particularly impressive potential for development and the prospects for synergies with our other plants in the region are promising. We are now in a position to offer our respective customers a highly comprehensive line of products.''
For his part, Brian O'Keefe said: "We are very pleased to be joining the Transcontinental family. The O'Keefe Group has enjoyed substantial growth over the past years, both in Montreal and Toronto, and this new union ensures future growth and brings an even greater diversity of services to our client base.''
One of the largest commercial printers in North America, Transcontinental Group is also Canada's leading publisher of consumer magazines and one of the country's top two publishers of regional press. The Corporation is also engaged in interactive marketing, Internet solutions and door-to-door distribution of advertising material. Through this fully integrated network, Transcontinental is able to provide its customers total service. The Corporation has over 10,500 employees in Canada, the United States and Mexico and reported revenues in 2001 of $1.8 billion.
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