Quebecor Printing Inc. will acquire World Color Press Inc. for about $2.7 billion, including debt. The combined company, to be called Quebecor World, will be the largest commercial printer of books, catalogs and magazines, with revenue topping $4.7 billion in the United States alone. Quebecor Printing, based in Montreal and majority owned by Quebecor Inc., will pay about $840 million in cash under the tender offer and assume about $1.3 billion in debt. The deal is subject to regulatory approval as well as 50.1% of World Color shares being tendered. Quebecor president/CEO Charles Cavell will maintain those titles at Quebecor World. World Color president/COO Marc Reisch will be chairman, president and CEO of Quebecor World’s North American operations. Robert Burton, World Color chairman/CEO, will step down to pursue other business interests following the offer’s completion. He will, however, be a member of Quebecor World’s board of directors. Quebecor has 115 facilities in 14 co! untries on four continents and r evenue of $3.8 billion. It is the largest printer in Europe and the second largest in North and South America. Founded in 1903 and based in Greenwich, CT, World Color has 58 facilities in the United States and revenue of $2.5 billion.
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