Quad/Graphics Divests QuadExpress Business To Mullen Group For $40 Mln - Quick Facts

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

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

The divestiture supports Quad's established 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 and create more value for its clients and other stakeholders.

Quad continues to own and operate its in-house transportation and logistics division, Quad Transportation Services, and its trucking division, Duplainville Transport.

Quad will use proceeds from the sale to continue to pay down debt and improve its debt leverage ratio. Quad acquired QuadExpress (formerly QWExpress) in July 2010 as part of the Worldcolor acquisition.