Exhibit 99.1
| Bowne & Co., Inc. | ||
| 345 Hudson Street | ||
| 212/886-0614 | ||
| Fax: 212/924-5500 |
|
News Release |
| Investor Relations Contact: | ||
| William J. Coote | ||
| VP & Treasurer | ||
| 212-886-0614 | ||
| bill.coote@bowne.com |
FOR IMMEDIATE RELEASE
Bowne to Acquire Digital Print Division of Vestcom International
Acquisition Strengthens Bowne’s Variable Print-on-Demand and Distribution Capabilities
Combined Division to Operate under the Name Bowne Marketing and Business Communications
Acquisition Strengthens Bowne’s Variable Print-on-Demand and Distribution Capabilities
Combined Division to Operate under the Name Bowne Marketing and Business Communications
New York, NY, December 20, 2005 – Bowne & Co., Inc. (NYSE: BNE) announced it has signed a
definitive agreement to acquire the Marketing and Business Communications (MBC) division of Vestcom
International, Inc., a leading provider of business communications and specialized marketing
services for $30 million in cash. The division will be integrated with Bowne Enterprise Solutions,
and the combined entity will operate under the name Bowne Marketing and Business Communications
(BMBC).
The transaction, which is expected to close in early 2006, is expected to be slightly accretive to
Bowne’s earnings per share in 2006 with restructuring and integration charges excluded from the
calculation of earnings.
“This acquisition significantly expands our distributive digital print capabilities to provide our
clients with even more flexibility to meet their customers’ needs,” said David Shea, president and
chief operating officer of Bowne. “MBC’s facilities are strategically located across the U.S. and
Canada, allowing us to expand our innovative solutions and leverage our proven processes and
outstanding customer service. In addition, this acquisition broadens our client base to include
several additional vertical markets.”
Following the combination of MBC and Bowne Enterprise Solutions (BES), Bowne’s digital print
on-demand and personalization business, Bowne Marketing and Business Communications will be one of
the leading print-on-demand enterprises in the fastest growing segment of the printing industry,
with pro forma 2005 combined revenues of approximately $140 million. This acquisition expands
BMBC’s digital composition, print, delivery and fulfillment of personalized and customized
communications solutions.
BES provides efficient and cost-effective solutions for producing and delivering personalized
custom documents primarily to financial services clients. From desktop editing to digital on-demand
printing, BES offers the capability for just-in-time delivery of documents that can be personalized
for the client and professionally produced and distributed. MBC is a leading provider of direct
marketing services including data mining, print-on-demand, Web-to-print and specialized marketing
services to the financial services, healthcare and pharmaceutical firms, commercial banks,
insurance providers and other vertical markets.
“We see BMBC as an important part of our core business strategy,” said Philip Kucera, chairman and
chief executive officer of Bowne. “As we’ve said before, we are committed to expanding our digital
print business organically and through acquisitions that make sense. This acquisition will enable
Bowne to capitalize on the growth of the print-on-demand market and allow us to draw upon our core
strengths, which include dealing with time-sensitive, critical documents where speed, quality and
confidentiality are paramount.”
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