BERLIN (dpa-AFX) - Quad/Graphics, Inc. (QUAD), a marketing company, Tuesday announced the signing of a deal to sell the majority of its European operations for 41 million euros to Capmont GmbH, a German private investment manager.
The company aims to use the proceeds from the sale, to be closed by year end 2024, to reduce debt and make further investments in solutions to boost its MX offering.
Joel Quadracci, chairman, of Quad, said: 'The decision to divest the majority of our European operations supports our ongoing strategic focus to optimize our business portfolio for growth as a marketing experience company.'
The transaction includes all staff and facilities of Quad/Graphics Europe print and ink-manufacturing and the Peppermint agency in Poland. In addition, it includes Quad POS, with Marin's International SAS, which has locations throughout Europe.
Quad's shared services employees in Poland who support the company's integrated marketing platform in The Americas have been excluded from the transaction.
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