Schawk, Inc. Completes Acquisition of Virtualcolor
Press release from the issuing company
CHICAGO--Jan. 6, 2004-- Schawk, Inc., has completed the previously unannounced acquisition of the Virtualcolor prepress division of Fort Dearborn Company based in Elk Grove, Illinois. Virtualcolor has approximately $10 million in annual revenue, a majority of which originates from Fort Dearborn Company and the balance from direct client relationships. As part of the acquisition, a supply agreement was entered into whereby Schawk and Fort Dearborn Company have agreed that Schawk will provide prepress services, including flexographic plates for Fort Dearborn's print business, for an initial period of five years.
The acquired business has a broad range of service offerings focusing on label work for consumer packaged grocery products. The business is being relocated into Schawk's Chicago facility in Des Plaines, Illinois.
"Virtualcolor is a well established prepress operation that was run separately from Fort Dearborn Company" said David Schawk, president and chief executive officer of Schawk. "Fort Dearborn has made a strategic decision to focus on its printing operations and outsource its prepress business to Schawk. Schawk's strategic plan for growth for 2004 includes acquisitions of graphic services businesses like Virtualcolor. This acquisition will bring Schawk's broad array of solutions and end-to-end services offerings to Virtualcolor's clients."
Rich Adler Jr., Fort Dearborn Company President and Chief Quality Officer stated, "Fort Dearborn Company is enthused about the prepress partnership with Schawk, which will better leverage our core competency of prime label production in order to enhance the value proposition to our customers. This partnership between one of the premier graphic suppliers and the leading supplier of high impact decorative labels will be a win-win situation that will best serve our valued customers."
Schawk, Inc., headquartered in suburban Chicago, is a leading supplier of digitized high resolution color graphic services, brand consulting and design, and an array of digitally based workflow solutions all aimed at bringing enhanced value to its clients. Schawk provides these advanced services for the food, beverage, and consumer products packaging, point of sale, and advertising markets.
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.