Donnelley Buys UK Printer for $990 Million
R.R. Donnelley & Sons, the largest printing company in North America, said yesterday that it will acquire Astron Group, the largest print and mail provider in the United Kingdom, for $990 million.The agreement, subject to regulatory approval, is to close this summer.
Astron provides transactional print and mail services, data and print management, document production and marketing support services. The two companies already share several clients.
"The Astron Group broadens our diverse printing and service capabilities in Europe, provides us with a strong operations center in Asia, nearly doubles our size in this fast-growing, high-margin segment and creates an expanded opportunity to sell to existing and new clients," Donnelley CEO Mark A. Angelson said in a statement.
In 2003, Chicago-based Donnelley paid $2.8 billion in stock to acquire Moore Wallace Inc.
Astron said it has 4,000 employees in 70 locations globally and expects $550 million in revenue this year.
