Cenveo (Stamford, Connecticut) has announced that its wholly-owned subsidiary, Cenveo Corporation, has sold its Office Products Envelope Business (commonly known as Quality Park Products), to LSC Communications, a global leader in traditional and digital print-related services and office products. The sale involves two facilities located in the United States. “Cenveo’s Quality Park Products has built its leading position and strong reputation on servicing the office-product markets to meet a variety of business customer needs,” said Robert G. Burton Senior, Cenveo Chairman and Chief Executive Officer. “This divestiture allows Cenveo to focus on our core operations – including labels, direct envelopes, print and content management. We remain committed to executing our plan of operating niche growth businesses while using our cash flow to invest in and grow our higher-margin product groups and de-leveraging our balance sheet.” Hughes Hubbard & Reed acted as legal advisor to the company on the transaction.
Cenveo is a world leader in the management and distribution of print and related products. It’s a $2-billion company and one of the top suppliers of printed labels to North America’s leading pharmaceutical, food, beverage and consumer-products companies. Its offers custom labels and custom printing using a variety of stocks, inks and printing processes. The company can print on virtually anything – including papers, foils, metals, plastics, clear and opaque films and synthetic materials. Its Rx Technology and Nashua units are leaders in prescription drug labels for pharmacies across the U.S. The Nashua Brand also produces retail and grocery-store-shelf labels as well as pressure-sensitive labels. Cenveo encompasses more than 24 entities in over 100 facilities across the U.S., and has manufacturing operations in Asia, South America and Central America as well.