Press release from the issuing company
June 14 -- Cenveo, Inc. announced today the signing of a definitive merger agreement pursuant to which Cenveo will acquire Madison/Graham ColorGraphics, Inc., of Los Angeles, CA. ColorGraphics is one of the largest printers in the western United States with approximately $170 million in revenues. The transaction is projected to be completed in July and is expected to be accretive to earnings. Chris Madison, the senior executive and President of ColorGraphics, will remain with the company following the acquisition. The transaction is also subject to other conditions, which were not disclosed.
ColorGraphics operates four strategically located state-of-the-art facilities across the west coast in
Robert G. Burton, Chairman and Chief Executive Officer of Cenveo, stated:
"The acquisition of ColorGraphics provides a perfect complement to Cenveo's existing West Coast commercial operations, and will firmly position Cenveo as the premier West Coast commercial printer. Expanding our capabilities in this market sector will allow our customers to benefit from our combined printing experience and additional resources. ColorGraphics' great reputation and Cenveo's respected craftsmanship are an exceptional fit that will benefit customers, employees and shareholders."
Chris Madison, ColorGraphics President, stated:
"We are eager to become a part of the Cenveo team. We are looking forward to the benefits our combined companies will share; the strengths of a large company with the responsiveness of a local printer. Cenveo has an excellent reputation in the printing industry and an executive team driven to make the company successful. The acquisition of ColorGraphics can only further that reputation."
Mr. Burton concluded:
"We continue to execute on our plan to make strategic and thoughtful acquisitions of high quality niche companies in high growth areas of the printing industry. The acquisition of ColorGraphics is strategically advantageous to Cenveo as it adds considerable strength to our west coast operations. We will continue to acquire strong and respected companies like ColorGraphics to our printing family. I look forward to working with Chris and his team, and I look forward to a swift completion of this transaction. "
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