Quad Completes Sale of Former Oklahoma City and Fernley Manufacturing Facilities

Rhea-AI Summary

Quad/Graphics (NYSE: QUAD) has successfully sold its manufacturing facilities in Oklahoma City and Fernley for net proceeds of $58.6 million. The company plans to utilize these funds to reduce debt and strengthen its position as a marketing solutions partner. This sale is part of Quad's ongoing strategy to enhance competitive capabilities and streamline operations, aligning with its commitment to providing integrated marketing solutions across various sectors.

Positive

• Sale of manufacturing facilities for net proceeds of $58.6 million.
• Proceeds will be used to reduce debt.

Negative

• None.

SUSSEX, Wis.--(BUSINESS WIRE)-- Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), today announced it has completed the sale of its former Oklahoma City, OK, and Fernley, NV, manufacturing facilities to affiliates of Industrial Realty Group, LLC, one of the country’s largest owners of commercial and industrial properties, for combined net proceeds of $58.6 million.

Quad will use proceeds from the sale to reduce debt and continue accelerating its competitive position as a marketing solutions partner.

About Quad
Quad (NYSE: QUAD) is a worldwide marketing solutions partner that leverages its 50-year heritage of platform excellence, innovation, strong culture and social purpose to create a better way for its clients, employees and communities. The Company’s integrated marketing platform helps brands and marketers reduce complexity, increase efficiency and enhance marketing spend effectiveness. Quad provides its clients with unmatched scale for client on-site services and expanded subject expertise in marketing strategy, creative solutions, media deployment (which includes a strong foundation in print) and marketing management services. With a client-centric approach that drives the Company to continuously evolve its offering, combined with leading-edge technology and single-source simplicity, the Company has the resources and knowledge to help a wide variety of clients in multiple vertical industries, including retail, publishing, consumer technology, consumer packaged goods, financial services, insurance, healthcare and direct-to-consumer. Quad has multiple locations throughout North America, South America and Europe, and strategic partnerships in Asia and other parts of the world. For additional information visit www.QUAD.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211217005135/en/

Claire Ho

Director of Corporate Communications, Quad

414-566-2955

cho@quad.com

Source: Quad/Graphics, Inc.

FAQ

What was the amount received from the sale of Quad's facilities?

Quad received $58.6 million from the sale of its manufacturing facilities in Oklahoma City and Fernley.

How will Quad utilize the proceeds from the facility sale?

Quad plans to use the proceeds to reduce debt.

Which facilities did Quad sell?

Quad sold its manufacturing facilities in Oklahoma City, OK, and Fernley, NV.

What is Quad's stock symbol?

Quad's stock symbol is QUAD.