Devon Group Acquires Canadian Art Prints.STAMFORD, Conn.--(BUSINESS WIRE)--Sept. 11, 1997--Devon Group, Inc. Stamford (NASDAQ-DEVN), today announced that its Winn Devon Art Group subsidiary ("Winn") acquired Canadian Art Prints Inc. ("CAP"), located in Richmond, B.C., Canada for $5 million (Canadian). CAP publishes and distributes art posters, art cards, limited edition prints, and matted as well as framed art. As a subsidiary of Winn, CAP will be aligned as a part of the Devon Publishing Group. Commenting on this announcement, Marne Obernauer, Jr., Chairman and Chief Executive Officer, stated, "The acquisition of CAP complements the Devon Publishing Group's portfolio of related companies and gives us a significantly enhanced presence in the Canadian market. Additionally, it allows us to complement and better leverage the talented management teams we have within the Devon Publishing Group and Winn. Particularly important to us is the fact that CAP's owner, Hal Krieger, will continue as president. With the high quality of its imagery and its distinctly Canadian bent, CAP is the publisher of choice for Canada'a major governmental entities and leading museums. CAP's sales are derived predominantly from Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. ." Devon Group, Inc. is a diversified graphic arts graphic arts: see aquatint; drawing; drypoint; engraving; etching; illustration; linoleum block printing; lithography; mezzotint; niello; pastel; poster; silk-screen printing; silhouette; silverpoint; sketch; stencil; woodcut and wood engraving. company that provides the following services and products: advertising and editorial production, conventional and digital photography, interactive multimedia, computerized typesetting typesetting: see printing. typesetting Setting of type for use in any of various printing processes. Type for printing, using woodblocks, was invented in China in the 11th century, and movable type using metal molds had appeared in Korea by the 13th , composition, and color separation Separating a picture by colors in order to make negatives and plates for color printing. The four-color process requires four separations: cyan, magenta, yellow and black (CMYK). See OPI and DCS. services to corporate, retail, advertising and publishing customers, and publishing/distribution of posters, art reproductions, original art, greeting cards See e-card. , notecards NoteCards - An ambitious hypertext system developed at Xerox PARC, "designed to support the task of transforming a chaotic collection of unrelated thoughts into an integrated, orderly interpretation of ideas and their interconnections". , calendars, and related products CONTACT: Devon Group Inc., Stamford Bruce K. Koch, 203/964-1444 |
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