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Quad Divests Its QuadExpress 3PL Logistics Business

Sale of division to Mullen Group Ltd. supports Quad’s strategy to optimize its products and services.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Quad/Graphics, Inc. announced that it has sold its QuadExpress third-party logistics (3PL) business for $40 million to Mullen Group Ltd., one of Canada’s largest logistics providers.

QuadExpress joins Mullen Group’s network of independently operated businesses that provide a range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized and specialized hauling transportation.

The divestiture supports Quad’s strategy to optimize its product and service portfolio and invest in those parts of its business that accelerate its position as a marketing solutions partner. Quad continues to own and operate its in-house transportation and logistics division, Quad Transportation Services, and its trucking division, Duplainville Transport.

The transaction closed on June 30, 2021. Quad will use proceeds from the sale to continue to pay down debt and improve its debt leverage ratio as part of a continuing focus on returning to its preferred long-term targeted leverage range of 2-2.5x.

“We continue to evaluate our collection of assets with a focus on long-term value creation and strategic fit,” said Joel Quadracci, chairman, president and CEO of Quad. “We are pleased to find a great buyer for our 3PL business. We will benefit, too, through an ongoing relationship with QuadExpress, which will serve as a preferred broker for our dedicated in-house transportation and logistics division.”

Quad acquired QuadExpress in July 2010 as part of the Worldcolor acquisition. In subsequent years, Quad made significant, strategic investments in the business.

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