Donnelley in deal to create number one print group

News by

10 November 2003

RR Donnelley will overtake Quebecor World as the worlds largest commercial print group after agreeing a 1.6bn ($2.8bn) stock-based acquisition of Canadian commercial printer Moore Wallace.

The new group will have annual revenues of more than 4.7bn and employ around 50,000 staff. It will retain the RR Donnelley name and will produce everything from magazines, telephone directories, books, catalogues, inserts and financial documents to personalised direct mail.

On closure of the deal, Moore Wallace chief executive Mark Angelson will become chief executive of the new RR Donnelley, replacing William Davis, who said in July that he would retire when a successor was found.

RR Donnelley, which will continue to be based in Chicago, will also take on 540m of Moore Wallaces debt.

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"Sorry to read this, a big name to go down, hopefully a lot of the £1.8M was insured. We are recruiting operational staff & currently in-talks to assist the clients with immediate requirements."