Cenveo Acquires Clixx Direct Marketing Services Inc.
Posted on February 11, 2010 at 16:32 PM EST
STAMFORD, Conn., Feb. 11 /PRNewswire-FirstCall/ -- Cenveo, Inc. (NYSE: CVO), announced today that the Company, through one of its subsidiaries, has acquired the assets of Clixx Direct Marketing Services Inc. ("Clixx".) Clixx is a market leader delivering a full suite of direct mail, data management, variable imaging and fulfillment solutions, having served the Canadian and U.S. markets for over 25 years. The terms of the transaction were not disclosed.
Robert G. Burton, Sr., Chairman and Chief Executive Officer of Cenveo, stated:
"In today's marketplace we recognize the critical need to offer our customers the full spectrum of print-related solutions encompassing print, direct mail, data management, and distribution. The acquisition of Clixx enhances our full service of offerings and I am pleased to welcome the Clixx team to the Cenveo family while also looking forward to working with them.
Clixx complements Cenveo's existing product line offerings and will create immediate cross-selling opportunities for both companies' customers. The acquisition of Clixx, with its strong market reputation and strategic niche product offerings, is an example of how we intend to grow our company by acquiring leaders in high growth sectors of the printing industry. We expect this acquisition to be accretive to earnings."
Cenveo (NYSE: CVO), headquartered in Stamford, Connecticut, is a leader in the management and distribution of print and related products and solutions. The Company provides its customers with low-cost alternatives within its core businesses of labels and forms manufacturing, packaging and publisher offerings, envelope production, and printing; supplying one-stop solutions from design through fulfillment. Cenveo delivers everyday for its customers through a network of production, fulfillment, content management, and distribution facilities across the globe.
Statements made in this release, other than those concerning historical financial information, may be considered "forward-looking statements," which are based upon current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. In view of such uncertainties, investors should not place undue reliance on our forward-looking statements. Such statements speak only as of the date of this release, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results to differ materially from management's expectations include, without limitation: (i) a decline of our consolidated or individual reporting units operating performance as a result of the current economic environment could affect the results of our operations and financial position, including the impairment of our goodwill and other long-lived assets; (ii) our substantial indebtedness could impair our financial condition and prevent us from fulfilling our business obligations; (iii) our ability to service or refinance our debt; (iv) the terms of our indebtedness imposing significant restrictions on our operating and financial flexibility; (v) additional borrowings are available to us that could further exacerbate our risk exposure from debt; (vi) our ability to successfully integrate acquisitions; (vii) intense competition in our industry; (viii) the general absence of long-term customer agreements in our industry, subjecting our business to quarterly and cyclical fluctuations; (ix) factors affecting the U.S. or Canadian postal services impacting demand for our products; (x) the availability of the Internet and other electronic media affecting demand for our products; (xi) increases in paper costs and decreases in its availability; (xii) our labor relations; (xiii) our compliance with environmental rules and regulations; and (xiv) our dependence on key management personnel. This list of factors is not exhaustive, and new factors may emerge or changes to the foregoing factors may occur that would impact our business. Additional information regarding these and other factors can be found in Cenveo, Inc.'s periodic filings with the SEC, which are available at http://www.cenveo.com.
Inquiries from analysts and investors should be directed to Robert G. Burton, Jr. at (203) 595-3005.
SOURCE Cenveo, Inc.
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