Sussex, Wisc-based Quad/Graphics has completed its acquisition of World Color Press and is scheduled to begin trading today on the New York Stock Exchange under the symbol QUAD. The deal was first announced in January and the combination of the two companies creates North America’s second largest printer with annual sales of approximately $4.8 billion.
Joel Quadracci, head of Quad/Graphics, will lead the new company as chairman and CEO. “This is a defining moment in our company’s history and for the future of our industry,” said Quadracci in a statement. “We believe in the power of print in a multichannel media world, and we now have more talent, technology and solutions in more places to better serve our clients well into the future.” Prior to the acquisition Quad had little presence in the book printing market, something that changed with the take over of World Color. The new company currently has about 28,000 employees, although that number will likely shrink as plans to integrate the two operations move forward. At the time the deal was announced, Quad said the merger would result in $225 million in pre-tax "synergies" within 24 months.