ALJ Regional Holdings and Lakeside Book Company Enters into Definitive Agreement to Acquire Phoenix Color
Feb 4, 2022 By MarketDepth
ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) and Lakeside Book Company have reported entry into a definitive agreement to acquire Phoenix Color. This transaction is expected to close in the second calendar quarter of 22, subject to closing conditions and regulatory stockholder approvals. “We know Phoenix well as a recognized leader in book components. Adding their team’s capabilities to Lakeside’s service offerings will enable our publishing customers to conveniently manage the book and cover printing in one place,” said Dave McCree, Lakeside’s Chief Executive Officer. “We are always looking for ways to make the printing supply chain more efficient for publishers and this transaction would be a significant step in that direction.”
“The combination of Phoenix’s component production capabilities and Lakeside’s book manufacturing services would provide customers with the benefits of streamlined order processing, scheduling and speed of delivery. Lakeside has been a key Phoenix customer for a number of years, and we are confident Lakeside will be a good home for the exceptional Phoenix team.”Marc Reisch, Chairman and Chief Executive Officer of Phoenix
“Phoenix has been a terrific member of the ALJ family of companies. While we are sad to lose the Phoenix team, we are excited that we have found a synergistic home for the business that will enable it to enhance its services to its customers,” added Jess Ravich, Chief Executive Officer of ALJ.