MATLET Group Acquires Five US Commercial Printing Facilities from Quebecor World
Press release from the issuing company
MONTREAL--Dec. 2, 2005-- Quebecor World Inc. and the MATLET Group LLC, a newly formed entity, announced today that the MATLET Group has completed the acquisition of five of Quebecor World's US facilities in a management buy-out. These facilities specialize in commercial printing and packaging as well as fulfilment and pre-media services. The purchase price for the transaction is US$70 million, subject to certain adjustments.
With annual revenue over US$135 million, The MATLET Group's operations will include the Acme Printing Company in Wilmington, MA; Central Florida Press, in Orlando, FL; Packaging Graphics, in Pawtucket, RI; Nova Marketing Services, in St-Louis, MO; and Premedia Services of Detroit, MI. With more than 600 employees, the Group produces premium catalogs, magazines, inserts, blister card and folding carton packaging, casual dining menus, annual reports and other collateral materials. Customers represent a wide range of industries such as travel & leisure, fashion, cosmetics, automotive, higher education, health care products and advertising agencies.
The MATLET Group was formed by Mr. Gary Stiffler, former Executive Vice President of Quebecor World's Commercial Group, along with two private investors.
"This acquisition represents an exciting opportunity that will restore local ownership to these commercial printing facilities. Each plant's management group will be familiar to customers and suppliers who have done business with these locations throughout the years," said Mr. Stiffler, President & CEO of the MATLET Group. "We understand and will focus on the two primary success factors in this business: capital investment in the latest technology and highly skilled and motivated employees."
"We are pleased to conclude this transaction with the MATLET Group. Gary and his management team bring a vast amount of knowledge and experience with them to this new endeavor and we wish them all the best" said Hugues Simard, Vice President Development and Planning, Quebecor World.
Quebecor World Inc. is one of the largest printers in the US with a coast-to-coast network of more than 75 printing and related facilities. Quebecor World's US operations have annual sales of more than US$4 billion and specialize in the printing of magazines, catalogs, retail inserts, books, directories and direct mail. Quebecor World's global revenues in 2004 were US$6.6 billion.
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.