R.R. Donnelley to Buy Poligrafia for $53.3M

Printing services provider R.R. Donnelley & Sons Co. said Thursday that it plans to expand its Central European operations with the $53.3 million acquisition of Poligrafia SA, Poland's third largest printer of magazines, catalogs, retail inserts and books.

R.R. Donnelley announced a tender offer to buy Poligrafia's 5.3 million outstanding shares for the equivalent of about 8.10 euros ($10.05) per share. Poligrafia shares are publicly traded on the Warsaw Stock Exchange. The company has already signed an agreement to acquire about 56.2 percent of the outstanding shares from Baring CEF Investments IV Limited, and expects to close the tender offer soon.

The company will fold Poligrafia in with its European operations. Donnelley said that it has already developed a presence in Poland, having constructed manufacturing plants there more than 10 years ago.

"Adding Poligrafia's respected capabilities to our platform will increase the flexibility and scale of our already strong Central European operations," said Mark A. Angelson, RR Donnelley chief executive, in a statement. "This combination will enhance manufacturing efficiencies and enable us to serve a larger and broader mix of customers in this important region."

(Source: Associated Press)

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