Quad/Graphics, Inc. (NYSE: QUAD) ("Quad/Graphics" or the "Company") and Courier Corporation (Nasdaq: CRRC) ("Courier") jointly announced a definitive agreement by which Quad/Graphics will acquire Courier, a leading innovator in book manufacturing, publishing and content management. The acquisition accelerates Quad/Graphics' three-year strategy to transform its book platform, which the Company announced earlier this week.
USSEX, WI - Quad/Graphics, Inc. today announced a three-year strategy to transform its book platform to give publishers a full range of options for producing and delivering books on demand, bringing zero inventory and just-in-time delivery closer to reality. The plan includes investing in
Quad/GraphicS, which has expanded its digital book production capacity by more than 500 percent this year, announces a new agreement with Penguin Group (USA) Inc., one of the leading U.S. adult and children’s trade book publishers, for short-run and print-on-demand production of Penguin’s U.S. trade hardcover, trade paperback and mass market books. The agreement covers all of Penguin’s imprints.
Quad/Graphics’ third-quarter 2011 net sales were $1.186 billion vs. $1.209 billion for the same period in 2010. “The volume declines we began to see late in the second quarter accelerated during the third quarter, and included continued weakness in the book market,” said Joel Quadracci, chairman, president and CEO.
(h/t Printing Impressions)
Quad/Graphics announced plans to invest in and restructure its book manufacturing platform to create production and distribution efficiencies, and deliver enhanced value to book publishing clients.