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Troy, Michigan, February 4, 2002 |
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The company that invented the fast-turnaround
printing industry, Insty-Prints®, and the company taking
the lead in reinventing the industry, Allegra Network® LLC,
have joined forces to bring the best of both businesses to purchasers
of print and graphic communications.
Allegra Network LLC (formerly American Speedy Printing Centers,
Inc.), one of the world's foremost printing and imaging franchises,
acquired the assets and franchise agreements of Insty-Prints,
Inc., through its parent Allegra Holdings LLC. The transaction
occurred immediately following the approval of the IPI, Inc.
shareholders at a meeting last Thursday.
Now with more than 500 locations in North America, Japan
and Poland, and systemwide sales of more than $300 million,
Allegra is known for its advanced printing technologies and
highly-trained consultative sales staff. The acquisition of
Insty-Prints is projected to advance Allegra Network from
the fifth largest printing franchise in the world to the third.
The company ranks in the top 200 in sales among all franchise
companies worldwide.
President and CEO Bill McIntyre comments, "We are very
excited about the future benefits that will come from combining
our two organizations, such as expanded geographic reach,
greater vendor leverage and name recognition. Franchise members
will also benefit from increased resources including access
to advanced printing technologies. Being a part of a larger
organization provides great opportunity to thrive in an ever-changing
industry, especially during a weakened economy."
The acquisition of Insty-Prints by Allegra Network comes
at a time of rapid consolidation in the printing industry.
In 2000, there were nearly 32,000 commercial printers in the
United States. By 2010, it is projected there will be only
23,500 (a 26 percent decrease), according to Trend Watch,
a leading industry research and consulting firm.
-more-
Allegra Acquires Insty-Prints, page 2
However, due to emerging market and technology forces moving
the industry forward, such as full color digital and short-run
on-demand printing, industry sales are projected to grow more
than 40% by 2010.
Steve Johnson, President and CEO of the industry association
PrintImage International expresses his thoughts on the two
franchises combining forces; "This is a sign of the consolidation
occurring within our rapidly changing industry. It is happening
at the individual shop level and it only makes sense that
it can and should also happen at the franchise level. Allegra
Network is a very well managed organization with a strong
base of print shops. This acquisition seems like a good fit
for Allegra. I am sure it will go a long way in strengthening
Allegra's current franchises as well its new Insty-Prints
franchises."
This is the third acquisition Allegra has completed in the
last seven years. In 1995, Allegra acquired Zippy Print, a
Canadian franchise printing company with 37 locations and
in 1998, the company acquired the franchise agreements of
24 Quik Print and Instant Copy centers from XYAN, Inc.
Some of the Insty-Prints locations will retain their brand
name while others will transition to the Allegra Print &
Imaging name, the premier brand of the Allegra Network. Other
brands in the Allegra Network are American Speedy Printing
Centers, Speedy Printing Centers, Quik Print
and Zippy Print. All locations are owned by franchise members.
Allegra Network will continue to support Insty-Prints franchise
members from its Minneapolis-based corporate office. Allegra
Network franchise members include former corporate executives,
engineers, teachers, police officers, accountants and professional
athletes. A number own multiple centers.
Allegra Network was founded in 1976 with five centers in
Michigan and is celebrating its 25th anniversary in franchising
this year. The company is privately owned by an investor group,
led by the company's management, including President and CEO
William D. McIntyre, Steve White, Jay Rosen, Carl Gerhardt,
Darryl Buchanan and Mark Crowley. Other principal shareholders
include Michael Marcantonio and Domino's Pizza founder and
former CEO Thomas S. Monaghan.
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