R.R. Donnelley & Sons will sell its package logistics business to Heritage Partners Inc. by the end of the third quarter, but will maintain its print logistics, fulfillment and distribution business, Donnelley said yesterday.
Financial details were not disclosed, though Donnelley said it would receive cash in the exchange.
Heritage Partners, Boston, is a private equity firm that owns American Package Express. The deal is subject to regulatory approval.
Donnelley's package logistics business includes the subsidiary CTC Direct Inc. Donnelley will continue to provide third-party logistics management services.