Consolidated Graphics to Acquire Annan & Bird Lithographers Ltd.
Press release from the issuing company
HOUSTON, Aug. 16 -- Consolidated Graphics, Inc. announced today that it has signed a letter of intent to acquire Annan & Bird Lithographers Ltd., located near Toronto in Mississauga, Ontario and representing a major expansion by Consolidated Graphics of the markets it serves. With this acquisition, Consolidated Graphics will have operations in 26 states plus the province of Ontario. The Company expects to complete the transaction by the end of its third quarter ended December 31, 2006.
Annan & Bird Lithographers is a leading Canadian general commercial printing company specializing in large format offset printing for the packaging and point of purchase markets. Founded in 1987 by the present management team of John and David Bird and their father Jack, Annan & Bird serves many of North America's largest and most well-known companies.
"Annan & Bird is a highly-creative, technology-focused company led by a strong management team that will allow us to grow our large format capabilities and customer base. It is also an ideal platform for us to expand into Canada, an attractive market for Consolidated Graphics' business model," commented Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics. "We look forward to working with John and Dave and their dedicated team of employees to duplicate our successful track record in this exciting new market opportunity."
John Bird stated, "We believe our philosophies on operating a successful and growing printing company are highly compatible with Consolidated Graphics' strategy and we look forward to exploring ways to accelerate Annan & Bird's growth, including offering our unique services to existing Consolidated Graphics customers."
David Bird added, "Consolidated Graphics is an industry leader that we are proud to join and we appreciate their confidence in us as their first Canadian acquisition."
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