R.R. Donnelley Sold

US-based business services and marketing solutions firm R.R. Donnelley & Sons (RRD) has announced it will be acquired by affiliates of global manufacturing and distribution group Atlas Holdings LLC, in an all-cash transaction valued at around $2.1bn.

Headquartered in Chicago, RRD itself has 33,000 employees across 28 countries, focused on helping clients optimize customer engagement and streamline business operations across the customer journey. In February 2020 it launched a solution called In-Store Insights, which combines its expertise in shopper experience research, data science and analytics, in-store strategy, and retail activations.

Its acquirer is Greenwich, CT-based Atlas, which together with its affiliates owns and operates 23 platform companies employing c.40,000 associates across more than 250 facilities worldwide, in sectors from aluminium processing and building materials, through food manufacturing and distribution to paper, pulp and wood products. Annual revenue is around $10bn.

Approved by RRD's Board and expected to close in the first half of 2022, the deal sees Atlas acquire all of the outstanding shares of RRD common stock, with RRD stockholders receiving $8.52 per share in cash for each share: representing a premium of some 29% over RRD's closing price on November 2nd, and c.64% over its 60-day volume weighted average price for the period ended October 11th. Under the terms, RRD has 25 calendar days to solicit acquisition proposals from third parties, and the Board says it will now do so.

Dan Knotts, RRD President and CEO, comments: 'Today's announcement represents an exciting next phase of RRD's journey. This transaction is truly a testament to our talented employees, whose passion for and dedication to serving our clients has helped build our company into the industry leading marketing and business communications company we are today. Under our new ownership structure, they will have access to even more career building opportunities in the future'. Tim Fazio, Atlas Co-Founder and Managing Partner, says the firm sees in RRD 'a demonstrated record of innovation and customer service and, at the same time, clear opportunities for continued growth'.

Web site: www.rrd.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.