Cenveo Announces Sale of Office Products Envelope Business
Press release from the issuing company
STAMFORD, Conn. - Cenveo, Inc. (NASDAQ: CVO) today announced that its wholly-owned subsidiary, Cenveo Corporation, has sold its office products envelope business commonly known as Quality Park Products, to LSC Communications (NYSE: LKSD), a global leader in traditional and digital print-related services and office products. The sale involves two facilities located in the U.S.
Robert G. Burton, Sr., Chairman and Chief Executive Officer stated: "Cenveo's Quality Park Products has built its leading position and strong reputation on servicing the office product markets to meet a variety of business customer needs. This divestiture allows Cenveo to focus on our core operations including labels, direct envelopes, print and content management. We remain committed to executing our plan of operating niche growth businesses while using our cash flow to invest in and grow our higher margin product groups and de-leveraging our balance sheet."
Hughes Hubbard & Reed acted as legal advisor to the Company.
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