Last updated on July 6th, 2020 at 10:56 am
Sussex-based Quad/Graphics Inc. has sold its Versailles, Kentucky book manufacturing plant to Minnesota-based CJK Group Inc.
Terms of the deal were not disclosed.
The 1 million-square-foot plant specializes in the production of softcover and hardcover books, serving publishing housings in the areas of educational textbooks, trade, children’s and scientific/technical books.
CJK will acquire the equipment and customer contracts for the facility and operate it as part of its Sheridan division.
“We are very happy to have found a great home for our talented team in Versailles while we continue to make progress on the potential sale of our remaining two East Coast book plants,” said Joel Quadracci, chairman, president and chief executive officer of Quad.
Last fall, Quad said it planned to divest its book business as part of its Quad 3.0 transportation strategy.
The business was acquired in 2010 as part of Quad’s World Color transaction. As of last year, it generated around $200 million in sales annually. Including the Kentucky plant, it had around 1,350 full- and part-time employees with other facilities in Fairfield, Pennsylvania and Martinsburg, West Virginia.
In addition to the sale of the Kentucky plant, Quad announced an amendment to its credit facilities to provide additional financial flexibility and the hiring of Cari Bucci-Hulings as president of Periscope, Quad’s integrated marketing agency.