“As our Quad 3.0 growth strategy accelerates, we continue to evaluate our collection of assets with a focus on long-term value-creation and strategic fit,” said Joel Quadracci, Quad chairman, president and CEO. “As part of FCA, Transpak will be part of a leading and fast-growing manufacturer of custom industrial crates, skids and boxes, and benefit from FCA’s broader scale, expertise and talent. Net proceeds of approximately $10 million will be used to reduce debt.”
Quad acquired Transpak in December 2013 as part of its strategic purchase of Proteus Packaging, a high-end paperboard packaging business that is also located in Franklin, WI. Quad continues to own and operate the former Proteus Packaging business.