New Print Group Emerges From Quebecor MBO

Quebecor World and the newly-formed Matlet Group have completed the acquisition of five of Quebecor's US facilities in a management buy-out.

Quebecor World and the newly-formed Matlet Group have completed the acquisition of five of Quebecor's US facilities in a management buy-out.

The facilities specialise in commercial printing and packaging, as well as fulfilment and pre-media services.

The purchase price was US$70 million, subject to adjustments.

With annual revenue of US$135 million, The Matlet Group's operations will include the Acme Printing Company in Wilmington, Central Florida Press, Packaging Graphics, Nova Marketing Services, and Premedia Services.

In all,the operations have 600 employees helping the group produce catalogues, magazines, inserts, blister card and folding carton packaging, casual dining menus and annual reports.

Customers represent a range of industries, such as travel and leisure, fashion, cosmetics, automotive, higher education, health care products and advertising agencies.

The Matlet Group was formed by Gary Stiffler, the former executive vice president of Quebecor World's Commercial Group, along with two private investors.

Stiffler, now the president and chief executive officer of the Matlet Group, said: "This acquisition represents an exciting opportunity that will restore local ownership to these commercial printing facilities.

Each plant's management group will be familiar to customers and suppliers who have done business with them throughout the years.

We will focus on the two primary success factors in this business - capital investment in the latest technology and highly skilled and motivated employees." Hugues Simard, vice president of development and planning at Quebecor World, commented: "Gary and his management team bring a vast amount of knowledge and experience with them to the new endeavor and we wish them all the best.".

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