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Northville, Mich., January 31, 2005 Allegra Network
LLC, one of the worlds leading print and graphic communications
franchisors, acquired the assets and franchise agreements
of one of the worlds largest sign franchises, Signs
Now Corporation. The joint announcement was made by Allegra
Network Chairman and CEO William McIntyre and President and
COO Carl Gerhardt at the companys headquarters in Northville,
Michigan. The acquisition closed today.
Allegra Network, founded in 1976, has more than 400 locations
in the United States, Canada and Japan with system-wide sales
of $265 million (2004). The companys primary brands
include Allegra Print & Imaging, American Speedy Printing
Centers and Insty-Prints. Signs Now, founded in 1983, has
more than 240 locations in the United States, Canada, the
United Kingdom and Brazil with system-wide sales of more than
$70 million (2004).
Signs Now will continue to be headquartered
in Bradenton, Florida, and will become the sign division of
Allegra Network. Certain administrative functions will
be moved to Allegra Networks corporate headquarters
and printing division in Northville, Michigan, but operational
support for Signs Now franchise members will continue to be
provided from Bradenton.
McIntyre commented, The acquisition of Signs Now represents
a significant step forward enabling us to provide expanded
services to our market. Under Carls leadership, we look
forward to continued aggressive implementation of our strategic
plans for long-term growth.
Gerhardt added, We are proud to have grown Allegra
Network to what it is today an established industry
leader, providing print communications and graphics services
to businesses. The acquisition of Signs Now is a strategic
move in the expansion of our services and another step in
fulfilling our vision, To build a progressive network
of the best graphic communications providers in North America.
The emergence of digital technology in
the graphic arts industry creates unique cross-over synergies
among our printing brands and the sign industry. We are a
business to business franchise network. This acquisition strengthens
our platform for further expansion as total solutions providers.
Both Allegra Network and Signs Now look forward to the benefits
that will come from combining these two successful franchise
companies. Steve White, Allegra Network executive vice president
commented, We are very excited about the new opportunities
this acquisition offers for current and prospective franchise
members of both organizations. Allegra Network and Signs Now
franchise members will benefit from a greater presence as
a larger network, as well as increased buying power and resources.
In addition, the acquisition creates advantages for their
customers and the communities they serve. From concept to
finish, digital and traditional printing to large format services,
all will be offered at Allegra Network.
Former Signs Now CEO Mike Etchieson added,
Allegra Network possesses a deep commitment to providing
their franchise members with the instrumental tools to enhance
and grow their businesses. They have the resources and support
to truly take Signs Now to the next level.
This is the fourth acquisition Allegra Network has completed
in the last 10 years. In 1995, the company acquired Zippy
Print, a Canadian franchise printing company with 37 locations.
In 1998, Allegra Network acquired the franchise agreements
of 24 Quik Print and Instant Copy centers from XYAN, Inc.
and in 2002, the company acquired the assets and franchise
agreements of Insty-Prints, Inc., with 210 locations. In addition
to its corporate acquisitions, Allegra Network has helped
its franchisees complete more than 140 acquisitions in their
local markets, attributing to more than $43 million in incremental
sales.
Signs Now is one of the worlds largest providers of
indoor and outdoor signage, exhibit displays and large-scale
graphics. A pioneer in the sign industry as the first sign
franchise, Signs Now provides an array of sign solutions from
creative concept to final production of high-impact, professional
signs, banners and other visual communications tools to businesses
worldwide. The company is privately-owned.
Allegra Network supports five brands including Allegra Print
& Imaging, American Speedy Printing Centers,
Insty-Prints, Speedy Printing and Zippy Print. Its independently-owned
franchises specialize in full-service print and graphic communications.
The company is privately owned by an investor group led by
the companys management team including Bill McIntyre,
Carl Gerhardt, Steve White and Vice President of Development
Darryl Buchanan. Other principal shareholders include Michael
Marcantonio and Dominos Pizza founder and former CEO
Thomas S. Monaghan. Allegra Network was ranked 108 on Entrepreneur
magazines Annual Franchise 500 ®, and 90 th on the
publications global franchisor list (2004). The company
was also rated the best in its industry and the 20th fastest
growing franchise according to Entrepreneur based on its financial
strength, stability, growth rate and size (2003). These honors
mark the 20 th year that Allegra Network has ranked among
the publications prestigious list.
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