Printer Friendly

CHAMPION INDUSTRIES ACQUIRES GARRISON BREWER OF MARIETTA, OHIO

 HUNTINGTON, W.Va., July 7 /PRNewswire/ -- Champion Industries, Inc. (NASDAQ: CHMP), today announced its second acquisition in a month -- purchasing the assets of Garrison Brewer Co. of Marietta, Ohio.
 Champion paid approximately $900,000 in cash for what Champion Chairman Marshall T. Reynolds called, "the leading office products business in southeast Ohio."
 Reynolds said the acquisition "couples strength with strength." Reynolds explained that Garrison Brewer has an outstanding design department. "That immediately adds a dynamic new capability to our office products area. When you link that with our ability to make purchases at very favorable discounts, it's evident we have an excellent fit," Reynolds said.
 Paul Garrison, president of Garrison Brewer, said the agreement offers great benefits both to his business and to his employees. "I'm excited about teaming our talented designers with the powerful Champion sales organization," Garrison said.
 That sentiment was echoed by the president of Champion's office products subsidiary, Stationers, Inc. Mac Aldridge said he looked forward to "expanding Garrison Brewer's sales base while we serve their customers with Champion's printing and business forms products."
 Champion, which completed its initial public offering of NASDAQ-listed common stock on Jan. 28, 1993, had sales of over $27 million in its most recent fiscal year. Garrison Brewer, which traces its roots in Marietta back to 1892, has had revenues of approximately $4 million per year.
 In June, Champion purchased Bourque Printing, Inc. of Baton Rouge, La. Champion Industries is a major commercial printer, business form manufacturer and supplier of office products in expanding regional markets of West Virginia, eastern and central Kentucky, southern Ohio and Louisiana. The company is headquartered in Huntington.
 -0- 7/7/93
 /CONTACT: Joseph C. Worth, chief financial officer of Champion Industries, 304-528-2791, or at home, 304-525-6771/
 (CHMP)


CO: Champion Industries, Inc.; Garrison Brewer Co. ST: West Virginia, Ohio IN: SU: TNM

CD -- PG002 -- 8917 07/07/93 08:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 7, 1993
Words:315
Previous Article:MAKING THE CAREER SWITCH TO INDEPENDENCE; TIPS FOR SMALL BUSINESS SUCCESS
Next Article:ADIENCE REORGANIZATION PLAN CONSUMMATED BY COURT; FINAL STEP CLEARS COMPANY FROM BANKRUPTCY
Topics:


Related Articles
CHAMPION INDUSTRIES TO ACQUIRE DALLAS PRINTING OF JACKSON MISSISSIPPI
CHAMPION INDUSTRIES COMPLETES ACQUISITION OF DALLAS PRINTING
CHAMPION INDUSTRIES' EARNINGS AND DIVIDEND SHOW INCREASE
CHAMPION INDUSTRIES DECLARES QUARTERLY DIVIDEND
CHAMPION INDUSTRIES EARNINGS UP; BOARD DECLARES STOCK DIVIDEND
CHAMPION INDUSTRIES COMPLETES ACQUISITION OF SMITH & BUTTERFIELD
Champion Announces Biggest Purchase - Will Acquire Interform Corp.
Champion Industries Declares Quarterly Dividend
Champion Industries Acquires Capitol Business Interiors of Charleston, WV
Champion Industries Acquires Thompson's in Northern WV

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters