Iconex, a leading global provider of highly differentiated label solutions and low-cost receipt paper, announced the acquisition of the long-run label and receipt paper businesses of Cenveo, which are in Jefferson City, Tenn., Joplin, Mo., and Vernon, Calif. The acquisition includes the buildings and converting equipment at the Jefferson City and Joplin locations, as well as the converting equipment at the Vernon facility. Cenveo retains ownership of the balance of its facilities. Financial terms of the transactions were not disclosed.
 
“We’re excited to announce this acquisition and to welcome our newest coworkers to the Iconex team. This very strategic acquisition will expand our highly differentiated label solutions business by adding new long-run label assets and solutions for Iconex to bring to the market,” said Craig A. Gunckel, chief executive officer of Iconex. “This transaction, which is fully aligned with our long-term growth objectives, also affords Iconex with the opportunity to strengthen our position as one of the world’s leading providers of low-cost receipt paper.”
 
With the acquisition of these label and paper receipts assets, Iconex will offer a more comprehensive product portfolio across all business lines. Customers will benefit in several ways; the asset acquisition will offer an industry-leading, low-cost model, improved service and access to the company’s breadth of product offerings.
 
Robert G. Burton, Jr., chief executive officer of Cenveo said, “I would like to start by thanking our employees, customers and vendors for their dedication and support over the past several years. For both Cenveo and Iconex, this transaction creates additional opportunities to invest in growing our core businesses and to continue our focus on delivering high-quality products.”
 
“Iconex has demonstrated what a strong team, aligned around a clearly defined strategy, can do to transform a good business into an exceptional one,” said Michael Sher, Partner at Atlas Holdings. “This move strengthens Iconex’ present and its future, and we couldn’t be more excited for where the company is headed.”