Quad/Graphics Completes Vertis Acquisition
The Sussex-based company acquired Vertis, a move which gives Quad more than 25,000 employees worldwide.
Sussex's Quad/Graphics has acquired Vertis for a net amount of $170 million.
Even though Vertis generated $1.1 billion in revenues in 2012, it still wasn't enough to keep it afloat with a series of liquidity challenges, reported PrintWeek.
"We are excited about our acquisition of Vertis and the opportunities it brings to advance our business and create value for our clients, employees and shareholders," Quad chief executive Joel Quadracci said in a statement to PrintWeek.
The acquisition of Vertis will help Quad expand geographically and increase its manufacturing flexibility, according to the report.
The combined company will have 25,000 employees in more than 70 print-production facilities located in North America as well as Latin America and Europe.
In October Quad/Graphics announced that it has reached an agreement with Time Inc. that stipulates that it will print about 85 percent of the 19 titles Time Inc. publishes.