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