Iconex Acquires Long-run Label Assets of Cenveo
3 May 2019
DULUTH, Ga., April 30, 2019 /PRNewswire/ -- Iconex, a leading global provider of highly differentiated label solutions and low-cost receipt paper, today announced the acquisition of the long-run label and receipt paper businesses of Cenveo, which are in Jefferson City, Tenn., Joplin, Mo., and Vernon, Calif. The acquisition includes the buildings and converting equipment at the Jefferson City and Joplin locations, as well as the converting equipment at the Vernon facility. Cenveo retains ownership of the balance of its facilities. Financial terms of the transactions were not disclosed.
"We're excited to announce this acquisition and to welcome our newest coworkers to the Iconex team. This very strategic acquisition will expand our highly differentiated label solutions business by adding new long-run label assets and solutions for Iconex to bring to the market," said Craig A. Gunckel, chief executive officer of Iconex. "This transaction, which is fully aligned with our long-term growth objectives, also affords Iconex with the opportunity to strengthen our position as one of the world's leading providers of low-cost receipt paper."
With the acquisition of these label and paper receipts assets, Iconex will offer a more comprehensive product portfolio across all business lines. Customers will benefit in several ways; the asset acquisition will offer an industry-leading, low-cost model, improved service and access to the company's breadth of product offerings.
Robert G. Burton, Jr., chief executive officer of Cenveo said, "I would like to start by thanking our employees, customers and vendors for their dedication and support over the past several years. For both Cenveo and Iconex, this transaction creates additional opportunities to invest in growing our core businesses and to continue our focus on delivering high-quality products."
"Iconex has demonstrated what a strong team, aligned around a clearly defined strategy, can do to transform a good business into an exceptional one," said Michael Sher, Partner at Atlas Holdings. "This move strengthens Iconex' present and its future, and we couldn't be more excited for where the company is headed."
Iconex is the leading low-cost provider of paper receipt and differentiated label solutions essential to daily commerce. A tradition of innovation dating back to 1887 is woven into the fabric of Iconex's identity beginning with the company's invention of the paper receipt, which revolutionized business transactions. Most recently, Iconex transformed the industry with the introduction of its Sticky Media®, a product that has enabled the Quick Service Restaurant industry to streamline operations, leading to an improved customer experience. For more information, please visit www.iconex.com. Iconex and Iconex Sticky Media® are trademarks of Iconex, LLC in the United States and other countries. All other trademarks and/or registered trademarks are property of their respective owners.
About Atlas Holdings LLC
Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 18 platform companies which employ more than 17,000 associates at more than 150 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, paper and packaging, power generation, pulp, supply chain management and wood products. Atlas' companies together generate more than $5 billion dollars in revenues annually. For additional information, please visit www.atlasholdingsllc.com
Cenveo, headquartered in Stamford, Connecticut, is a leading provider of print and related resources, offering world-class solutions in the areas of custom labels, envelopes, commercial print, content management and publisher solutions. The Company provides a one-stop offering through services ranging from design and content management to fulfillment and distribution. With a worldwide distribution platform, we pride ourselves on delivering quality solutions and service every day to our customers. For more information please visit us at www.cenveo.com.
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