Quad Completes Sale of Its European Operations to Capmont
Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), a marketing experience (MX) company, announced that it has completed the previously announced sale of its European operations for €41 million (approximately $42 million, of which $14 million was received at close) to Germany-based entrepreneurial private capital investment manager Capmont GmbH (“Capmont”).
The transaction includes all employees and facilities for Quad/Graphics Europe print and ink-manufacturing headquartered in Wyszków, Poland; the Peppermint agency in Warsaw, Poland; and Quad POS (including Marin’s International SAS), which has locations throughout Europe.
Excluded from the sale are Quad’s shared services employees in Poland who support the company’s integrated marketing platform in The Americas.
Quad expects to use the proceeds from the sale to reduce debt and make further investments in solutions that advance its MX offering, consistent with its commitment to drive shareholder value.
“We are pleased to have completed this transaction with Capmont,” said Joel Quadracci, Chairman, President and CEO of Quad. The divestiture supports our ongoing strategic focus to optimize our business portfolio for growth as a marketing experience company. This includes maintaining state-of-the-art print operations in locations that support our ever-evolving MX offering – especially The Americas, with North America comprising our largest base of operations and where we believe we can provide the greatest value to clients through our uniquely integrated marketing platform.”
AlixPartners served as Quad’s financial advisory firm, and Eversheds Sutherland served as Quad’s legal advisor.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.
