François Olivier, President and CEO of Montreal-based Transcontinental Inc., announced today that Canada’s largest printing company has signed an agreement to sell its U.S.-based direct-mail operations to IWCO Direct of Minnesota.
The agreement, with an undisclosed price tag, includes substantially all of the assets of Transcontinental’s U.S. direct-mail group in Fort Worth, Texas; Downey, California; and Warminster and Hamburg, Pennsylvania. Transcontinental expects to close the sale by the end of its second quarter.
Transcontinental’s direct-mail group in the United States generated revenues of US$153 million in 2009 and employs about 1,200 people. “Transcontinental has decided to focus on its other market segments,” stated François Olivier, in a press release. “The sale of our U.S. high-volume direct mail operations will benefit customers, employees and the industry.”
IWCO Direct employs more than 1,200 people and lists the following regional sales locations in the United States: Los Angeles, Minneapolis, Naples (Florida), New York. Philadelphia, Richmond (Virginia), San Francisco, and St. Louis.
“This [acquisition] provides a robust national total package footprint for our customers seeking innovative and cost-effective programs for customer acquisition, loyalty and engagement programs anchored by powerful strategy development,” said Jim Andersen, IWCO Direct President and CEO.