On Friday, in the ever-consolidating printer sector, Quad/Graphics announced an agreement to acquire Courier Corp. for $129 million in cash and approximately 4.8 million shares of stock. Quad/Graphics says the deal “accelerates [its] three-year strategy to transform its book platform, which the company announced earlier this week.” The deal is expected to close by the middle of the year, and Quad/Graphics says they are paying “less than five times adjusted EBITDA after taking into account anticipated synergies.” Courier’s James F. Conway III will join Quad/Graphics as president of the book division. Courier’s stock rose by about a third on Friday, to close […]
