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Quad Graphics Acquires LCS

Quad Graphics is buying the RR Donnelly spin-off LSC Communications, doubling its annual revenues to $8 billion and continuing the consolidation trend in the print and distribution industries.

Quad/Graphics, Inc. announced October 31 that both boards of directors have approved a deal whereby Quad will acquire LSC Communications in an all-stock transaction valued at approximately $1.4 billion, including the refinancing of LSC Communications’ debt.

Earlier this year LSC acquired the Print Logistics component of RRD’s Logistics business. And LSC in the prior year purchased Fairrington and The Clark Group.

Bottomline: with this deal, now only one company, Quad Graphics, remains.

Joel Quadracci (pictured above) will be Chairman, President and Chief Executive Officer of the combined company. Quad will expand its board of directors to include two members from LSC Communications’ existing board.

The transaction is expected to close in mid-2019, subject to approval by Quad and LSC Communications shareholders, regulatory approval and other customary closing conditions.

Click for press release

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