The deal was announced last October. Quad/Graphics confirmed that the sale process to German private equity firm Capmont had completed yesterday (3 March).

The transaction includes all employees and facilities at the Quad/Graphics Europe print and ink-manufacturing facility headquartered in Wyszków, Poland (formerly Winkowski prior to Quad acquiring the business in 1998); the Peppermint agency in Warsaw; and the Quad point-of-sale business – including Marin’s International – which has locations throughout Europe.

For the year ending 31 December 2024 the European operations had sales of $152.9m.

Quad/Graphics chairman, president and CEO Joel Quadracci commented: “The divestiture supports our ongoing strategic focus to optimize our business portfolio for growth as a marketing experience company.

“This includes maintaining state-of-the-art print operations in locations that support our ever-evolving MX offering – especially The Americas, with North America comprising our largest base of operations and where we believe we can provide the greatest value to clients through our uniquely integrated marketing platform.”

The sale does not include Quad employees in Poland who support the company’s integrated marketing platform activities in The Americas.

Quad will use the sale proceeds to reduce debt and for other investments. The expected net proceeds are around $26.4m.

The group had sales of $2.7bn last year.

It made a $57.6m impairment charge related to the European sale to reduce the carrying value of the operations, as well as charges for operating lease right-of-use assets.

The European business is currently still operating as Quad under its new owners, but Printweek understands a new name will be decided upon in due course.

Capmont had not commented on its plans at the time of writing. 

AlixPartners served as Quad’s financial advisory firm, and Eversheds Sutherland was the group’s legal advisor.