Big Flower Acquires Major New York, Chicago Digital Premedia Services Companies.NEW YORK--(BUSINESS WIRE)--May 5, 1998--Big Flower Holdings, Inc. (NYSE NYSE See: New York Stock Exchange :BGF BGF Black Guerrilla Family (Afro-American prison gang symbol/tattoo) BGF Boursier du Gouvernement Français (French) BGF Black Guerilla Family (gang) BGF Best Guy Friend ) announced today that Laser Tech Color, Big Flower's digital premedia and image content management business, has acquired Enteron en·ter·on n. The alimentary canal; the intestines. enteron the gut or alimentary canal; usually used in medicine with specific reference to the small intestine. Group, Inc., a privately-held premedia company with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of approximately $60 million. Enteron, with premedia and production facilities in Chicago and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , is a major provider of digital image management services to advertising agencies, catalog retailers, consumer product companies and direct marketers. The terms of the agreement were not disclosed. Enteron operates a total of 10 facilities, including seven in the greater Chicago area and three in the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. metropolitan area. Enteron's services include image scanning, digital photography, digital proofing, image management, outsourced facilities management and large display production for billboards, building covers, murals and other large displays. Commenting on the acquisitions, Edward T. Reilly, President and Chief Executive Officer of Big Flower, said, "Enteron brings Big Flower three important benefits: strategic locations in Chicago and New York; long-term relationships with major advertising agencies whose clients include many of the largest advertisers in the U.S.; and a strong management team which has taken the company from a $2 million business 13 years ago to one with $60 million in revenues this year." "I am delighted that Enteron, one of the leading U.S. premedia providers, has become part of the Laser Tech Color group and Enteron's chairman, John J. Reilly (not related to Big Flower's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ), will bring his years of experience and expertise to our organization," said Brian Mason, Chief Executive Officer of Laser Tech Color. "I am particularly pleased that Enteron's New York facilities will be networked with our London operations. Using our VixNet image content telecommunication system, we will now offer advertising agencies in Chicago and New York a seamless distribution route for their materials to Europe though the U.K." Enteron is the seventh acquisition completed by Laser Tech Color in the past 18 months. Laser Tech operates a digitally-linked network of 34 premedia facilities throughout the U.S. and London, providing outsourced digital premedia, image content management and new media services to advertising agencies, consumer product and packaging companies and retail advertisers. Big Flower Holdings, Inc. is a leading advertising, marketing and information services See Information Systems. company specializing in targeted advertising inserts and circulation-building newspaper products, customized direct mail and direct marketing services and digital services, including outsourced digital premedia and computer-based management systems for the broadcast industry. For the twelve months ended March 31, 1998, the Company's pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenues were approximately $1.6 billion, including the recently completed acquisitions. CONTACT: Big Flower Holdings, Inc. Nancy S. Murray, 212/521-1606 nmurray@bigflower.com |
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