Quad Sells Parcel Direct to FedEx
SUSSEX, WI—Quad/Graphics has reached an agreement with FedEx to sell its Parcel Direct division to the overnight delivery specialist for $120 million in cash. The deal is pending regulatory approval and legal conditions being met.
Parcel Direct has an employee base of 450 in 12 distribution centers nationwide. It generated $250 million in sales for 2003.
- Companies:
- Quad/Graphics
- People:
- Thomas Quadracci
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