Staples Acquires Forms Manufacturer
Dec. 21, 2010
Staples Advantage, the business-to-business arm of office products retailer Staples and parent division of Staples Promotional Products (asi/120601), has acquired PRINTSouth Corporation (asi/299404). Financial terms of the deal were not disclosed. PRINTSouth, which operates as Miami Systems and is based in Ohio, is a national manufacturer of business forms. Staples said that its Print Solutions division had competed with Miami Systems for a number of years, and that this deal would give Staples more of a national footprint in the forms market.
"We welcome Miami Systems to the Staples company. We share the same values and beliefs, and are committed to growing within the print solutions marketplace," said Jay Baitler, executive vice president of Staples Advantage. "Together, our combined businesses will make it easy for customers through nationwide manufacturing coverage and unparalleled value and service."
The acquisition now gives Staples Advantage sales entry into the Midwest and its first manufacturing operations east of the Mississippi River. Staples said it will take on all of Miami Systems' roughly 250 employees located in offices across the country and at plants in Cincinnati; Tempe, AZ; Nashville, TN; Atlanta; Richmond, VA; and Green Cove Springs, FL. Miami Systems, founded in 1926, currently has $70 million in annual sales.