By: E&P Staff
Transcontinental has agreed to sell its U.S. direct mail operations to Chanhassen, Minn.-based IWCO Direct. Terms of the transaction were not disclosed but the deal is expected to close in Q2 upon government approval.
“Transcontinental has decided to focus on its other market segments,” Francois Olivier, president and CEO, said in a statement.
IWCO Direct said the deal expands its national footprint. Until the deal closes the two companies will operate separately.
Transcontinental said its direct mail group generated $153 million in revenue last year and employs 1,200 people.
Meanwhile, Journal Communications announced on the same day it’s selling its direct marketing division.