Parent of former JC plant buys new company
Thursday, October 24, 2013
A few weeks after shutting down its Jefferson City operation, RR Donnelley announced Thursday it had acquired Consolidated Graphics, a provider of digital and commercial printing, for $620 million in cash and stock.
Consolidated Graphics is based in Houston and has 70 printing businesses in 26 states along with operations in Toronto, Prague and Japan.
According to the Houston Business Journal, both companies’ boards approved the deal; a closing is expected in the first quarter of 2014.
In the deal, Consolidated Graphics shareholders receive $34.44 in cash and 1.651 of RR Donnelley shares for each outstanding share of Consolidated Graphics they own, according to a report by Reuters. RR Donnelley will also assume Consolidated Graphics’ debt.
RR Donnelley closed down the Jefferson City operation on Oct. 1, laying off 475 people.
Some of those employees took jobs at Donnelley’s operation in Owensville while others took jobs with local companies such as Scholastic, Modern Litho-Print and Command Web.
Calls to RR Donnelley’s corporate headquarters in Chicago were not returned.
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