Jostens Affiliate to Acquire the Assets of Publishing Enterprises, Incorporated
Press release from the issuing company
MINNEAPOLIS and ARMONK, N.Y., Sept. 26 -- Jostens, Inc. today announced the execution of an agreement to acquire the assets of Publishing Enterprises, Incorporated, the producer of Memory Book Company school yearbooks and Meridian student planners, headquartered in Sedalia, Missouri. Publishing Enterprises also produces a variety of other printed products under the PrintLynx name.
Publishing Enterprises has been very effective at providing products and services that help people tell their memorable stories and chronicle the year's important events. Jostens shares that same mission and we look forward to working with the Publishing Enterprises business to achieve our collective goals for our customers," said Tim Larson, senior vice president and general manager, Printing & Publishing, Jostens. "The acquisition further expands our reach in serving a broader range of customers for custom memory books and related products."
"Jostens' outstanding reputation, people and commitment to customers are the foundation of our new relationship," commented Lanny Maness, President of Publishing Enterprises, Incorporated. "We look forward to working together and continuing to service our valued customers."
After the closing, the business will continue to market and sell its products through the existing sales channel, with continued production operations at the existing facilities. The company employs a total of approximately 100 full-time and seasonal employees at its locations in Sedalia and Boonville, Missouri.
The transaction, which will be accomplished through a purchase of assets by a wholly owned subsidiary of Visant Corporation, is expected to close in early October 2007.
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