RRD to Sell Its Canadian Operations to DATA Communications Management Corp.
R.R. Donnelley & Sons Company (“RRD”), a global provider of marketing, packaging, print and supply chain solutions, announced that it has entered into a share purchase agreement (the “Purchase Agreement”) with DATA Communications Management Corp. (TSX: DCM)(OTCQX: DCMDF) (“DCM”), a provider of marketing and business communication solutions. Under the terms of the Purchase Agreement DCM will acquire RRD’s Canadian operations (the “Transaction”).
DCM will acquire all the issued and outstanding shares of Moore Canada Corporation (“RRD Canada”), a wholly owned subsidiary of RRD. The Purchase Agreement contains various representations, warranties, covenants, and indemnities and customary closing conditions.
“Combining our business with DCM is a strategic opportunity to broaden our existing offering to customers across a variety of industries,” said Rael Fisher, President, RRD Canada. “We look forward to this new chapter in our longstanding history in Canada as part of DCM.”
“This transaction not only brings together two organizations with complementary business models but it also advances and strengthens RRD’s strategic plan to hone in on its core businesses,” said Tom Quinlan, President and Chief Executive Officer at RRD.
The transaction is expected to close in the second quarter of 2023, subject to the satisfaction of customary closing conditions and receipt of third party and regulatory approvals including those required under Canada’s Competition Act.
RRD Canada provides print and related services to thousands of customers across Canada including financial institutions, retailers, insurance providers, transportation companies, government organizations and other regulated industries.
Blake, Cassels & Graydon LLP (Canada) and BakerHostetler (U.S.) are serving as legal counsel to RRD.
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.
