Quad/Graphics to buy minority stake in HGI Company
Craig Faust will retain majority ownership of Burlington, WI-based HGI and continue to lead the company as president and CEO.
Quad/Graphics, which announced plans to buy rival print and digital services firm Worldcolor in January, will provide HGI with the financial resources to continue diversifying its products and expanding its geographic reach. Quad/Graphics plans to offer clients improved services in in-store and point-of-purchase materials, marketing collateral, short-run books, catalogs and directories, print-on-demand publications and specialty binding, according to a statement from the two companies.
Faust said in the statement that the deal will allow his company to “execute more quickly on our growth strategy in short- to medium-run length commercial print.”
Quad/Graphics' acquisition of Worldcolor, expected to be complete this summer, will make the company the No. 2 printer in North America behind only RR Donnelley & Sons.
Representatives from Quad/Graphics and HGI could not be immediately reached for comment.