Predictions of Industry Mergers --DeWese

A big chunk of Wallace was the old Graphic Industries, a 1980s rollup of about 24 companies. Moore wants to diversify into commercial printing due to the shrinking forms market. It had already acquired Nielsen Lithographing (about $90 million) and now it has another $400 million. It already had about $200 million in commercial work that its salespeople stumbled on while selling forms, labels and direct mail. Now, Moore does as much commercial printing (at about $700 million) as Consolidated Graphics.