Jostens Inc., Minneapolis, has named Michael L. Bailey as CEO. He succeeds Robert C. Buhrmaster, who is retiring after 12 years with the company. Also, Jostens is becoming part of a new specialty printing and marketing services company co-owned by Kohlberg Kravis Roberts & Co. and DLJ Merchant Banking Partners, an affiliate of Credit Suisse First Boston’s Alternative Capital Division.
This new entity will consist of three entities: Jostens, provider of yearbooks, class rings and graduation products; Von Hoffmann Corp., printer of educational textbooks and supplemental materials and its subsidiary Lehigh Press, which specializes in book components and direct marketing print services through Lehigh Direct; and Arcade Marketing, a manufacturer of sampling products for the fragrance, cosmetics, consumer products, and food and beverage industries.
Each of these companies is currently owned by DLJ Merchant Banking Partners and will become part of one enterprise through a recapitalization of Jostens and the acquisitions of Von Hoffmann and Arcade. Marc L. Reisches will lead the new holding company.
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