By: PORTLAND, MAINE.-BASED Guy Gannett Communications has agreed to sell the assets of its Shakopee Valley Printing subsidiary to an affiliate of Sullivan Graphics Inc. for undisclosed terms.
Guy Gannett president and CEO James B Shaffer said that Shakopee, acquired in 1988 from Ken Theis, "does not fit our new business strategy," which focuses on newspapers, TV and new media. Its flagship is the Portland Press Herald.
Shakopee, a Minnesota-based printer of newspapers and ad inserts, has 300 employees and had sales of $45 million last year.
It will continue to be run by Theis and will continue to print Guy Gannett's 21 weeklies in suburban Minneapolis, the Minnesota Sun papers.
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