Transcontinental sells US direct mail group
By Adnews Staff
Montreal-based Transcontinental has signed an agreement to sell its US direct mail operation to IWCO Direct of Minnesota. The sale includes substantially all the assets of Transcontinental's direct mail group in Warminster, PA, Hamburg, PA, Fort Worth, TX and Downey, CA. The deal, which is still subject to regulatory approval, is expected to close by the end of the company's second quarter. No financial details are available. "Transcontinental has decided to focus on its other market segments," said François Olivier, president and CEO of Transcontinental. "The sale of our US high-volume direct mail operations will benefit customers, employees and the industry."
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