Nahan announced that it has expanded its digital printing platform with the addition of the ProStream 1800, manufactured by Canon Solutions America. “This state-of-the-art continuous feed inkjet press will enable Nahan to deliver highly targeted and personalized print at exceptional speeds with award-winning quality and flexibility, unlike anything we’ve seen,” said Nahan CEO Mike Ertel. With the ability to produce over 62 million letter impressions per month, the ProStream will increase Nahan’s overall capacity, while reducing production cycle times and enabling faster speed to market for its clients. Setting a new benchmark for inkjet quality, the ProStream1800 provides a color gamut beyond offset standards on most papers. At full speed, the ProStream leverages 1,200 dpi resolution with Canon multi-level ink drop size modulation for smooth shadings, striking details in dark tones, and sharp fonts. The ProStream allows for flexibility across a wide range of media, including standard offset coated, uncoated, and inkjet optimized papers from 40gsm to 300gsm. This will allow Nahan to efficiently produce a wider range of formats than ever before, from premium direct mail, to catalogs, self-mailers, and more. Another compelling feature of the ProStream is that it can produce fully variable 4-color catalog covers in-stream – a new and unique advance in capabilities for Nahan.
R.R. Donnelley & Sons Company (“RRD”) (NYSE: RRD) today announced that it has entered into a definitive merger agreement to be acquired by affiliates of Atlas Holdings LLC (“Atlas”), which operates a global family of manufacturing and distribution businesses, in an all-cash transaction with a total enterprise value of approximately $2.1 billion.
The merger agreement has been unanimously approved by RRD’s board of directors. Under the terms of the merger agreement, Atlas will acquire all of the outstanding shares of RRD common stock, and RRD stockholders will receive $8.52 per share in cash for each share of RRD common stock. The purchase price represents a premium of approximately 29.1 percent over RRD’s closing price on November 2, 2021, approximately 72.8 percent over RRD’s closing share price on October 11, 2021, the last trading day prior to the announcement of a non-binding offer by Chatham Asset Management, LLC, and a premium of approximately 64.1 percent over RRD’s 60-day volume weighted average price for the period ended October 11, 2021.
“The RRD board regularly reviews the Company’s strategic priorities, and today’s announcement is a culmination of a thorough, multi-year process to maximize value for RRD stockholders,” said John Pope, RRD Chairman of the Board of Directors. “After a careful and thorough analysis, the RRD board believes that this transaction, which delivers an immediate premium and certain cash value, is in the best interest of RRD and our stockholders. We look forward to working with Atlas to complete this value enhancing transaction.”
“Today’s announcement represents an exciting next phase of RRD’s journey,” said Dan Knotts, RRD President and Chief Executive Officer. “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.”
“We are excited to have reached this agreement to acquire R.R. Donnelley and Sons, an iconic name in the business communications, marketing and printing industries. Atlas is a trusted partner for businesses that have both a demonstrated record of innovation and customer service and, at the same time, clear opportunities for continued growth. That is precisely what we see in RRD. We look forward to working with RRD’s talented and experienced team and welcoming RRD’s associates into the Atlas Family,” said Tim Fazio, Atlas Co-Founder and Managing Partner.
“With RRD’s robust portfolio of capabilities, we believe Atlas’ reputation for operational excellence will build upon RRD’s leading position across marketing solutions and business services,” said Michael Sher, Atlas Partner.
“We look forward to completing this transaction and beginning an exciting new chapter for this storied business,” added Neil Mahajan, Atlas Partner.