Quad Plunks Down $100 Million to Obtain Brown Printing

Quad/Graphics is purchasing Brown for $100 million and intends to use cash on hand or draw on its revolving credit facility to finance the acquisition. Brown expects to generate approximately $350 million in revenues during fiscal year 2014. Quad/Graphics expects that the acquisition will be accretive to earnings and that the purchase price multiple will be less than four times adjusted EBITDA after taking into account anticipated synergies.