Honeywell reached a definitive agreement to sell security printing services business Clarke American to M&F Worldwide Corp. for $800 million in cash, Honeywell said yesterday.
The deal calls for M&F Worldwide to acquire all stock of Novar USA Inc., the parent company of the SPS business operated by Clarke American and related companies. They include Checks in the Mail, B2Direct and Alcott Routon.
Clarke American is a strategic partner to 3,200 financial institutions, providing them check-related products and services.
With Alcott Routon, Clarke American provides direct marketing programs based on analytics and predictive modeling to help financial institutions target customers. Checks in the Mail supplies checks and other financial documents directly to 3.5 million consumers, and B2Direct offers customized business kits and treasury management services to businesses.
Clarke American businesses generated $600 million in revenue in 2004.
The acquisition, subject to certain customary conditions, is to close prior to the end of 2005.
M&F Worldwide is a holding company that, through its wholly owned subsidiary, Mafco Worldwide Corp., produces licorice extracts and a variety of natural botanical products.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters
