Schawk Closes Deal on Brandimage
Schawk, Inc.,a leading provider of brand development and deployment services, enabling companies of all sizes to connect their brands with consumers, announced it has closed its previously announced acquisition of substantially all of the assets of Lipson Associates, Inc. and Laga, Inc., which does business as Brandimage - Desgrippes & Laga, or "Brandimage," for a cash purchase price of $25 million, subject to certain closing and post-closing adjustments, and the assumption of certain trade account and business related liabilities.
Schawk funded the purchase price through a draw from its existing credit facility.
Brandimage is a leading independent branding and design network specializing in providing services that seek to engage and enhance the brand experience, including brand positioning and strategy, product development and structural design, package design and environmental design. Brandimage, with unaudited 2010 revenues of approximately $32 million, has operations in Chicago, Cincinnati, Paris, Brussels, Shanghai, Seoul and Hong Kong. Brandimage will operate in conjunction with Schawk's current brand development capabilities, which are performed under its Anthem Worldwide brand.
President and Chief Executive Officer David A. Schawk commented, "Brandimage has established outstanding relationships with its clients by providing world class service throughout their locations. I am very pleased and excited to add such a strong group thereby further enhancing Schawk's brand development capabilities."
For more information, visit www.schawk.com.