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 HUNTINGTON, W.Va., Sept. 22 /PRNewswire/ -- Champion Industries, Inc. (NASDAQ: CHMP) today announced that it has reached an agreement in principle by which Dallas Printing Co., Inc. of Jackson, Miss., will become a wholly owned subsidiary.
 Champion will exchange $1,040,000 in cash and approximately 20,000 shares of its NASDAQ-listed common stock for 100 percent of the shares of Dallas. The transaction is expected to close within 30 days, upon execution of a definitive stock purchase agreement.
 Marshall T. Reynolds, chairman of Champion, said this fourth acquisition in as many months "provides us with an outstanding opportunity to enter a particularly significant new market." Jackson, capitol city of Mississippi, is a government, financial, insurance and food processing center. Reynolds said Champion has long been interested in the market area, and "by locating in Jackson, we're right in the core of the big apple of the state of Mississippi."
 "The ability to sell our high-end color products and business forms will give Dallas the ability to expand sales rapidly," Reynolds added. "Within a reasonable time, we fully expect Dallas to become the number one printer in the Jackson area, just as Champion divisions are in our home markets," he said.
 Raymond F. Dallas, president and founder of Dallas Printing, said moving the firm under the Champion umbrella creates great new opportunities. "Champion believes in combining top grade equipment with a top grade sales effort to produce strong sales results. We will have the ability to upgrade equipment, enlarge our product lines, and intensify our sales efforts," Dallas said. "Linking our Mississippi-based, family-controlled firm to a strong, rapidly growing company will reap rewards for all the employees who have been responsible for our current success. Furthermore, it will be good for the Jackson market," he added.
 In June, Champion purchased Bourque Printing, Inc. of Baton Rouge, La. Then, in July, the company acquired Garrison Brewer, an office products firm in Marietta, Ohio, which was followed in September by the purchase of Strother Forms/Printing, a Baton Rouge business form printer.
 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. Dallas revenues have approximated $1.3 million per year.
 Champion Industries is a major commercial printer, business form manufacturer and supplier of office products, furniture and design services. With the Dallas acquisition, Champion adds Mississippi to its growing list of regional markets, including West Virginia, eastern and central Kentucky, southern Ohio and Louisiana. The company is headquartered in Huntington.
 -0- 9/22/93
 /CONTACT: Joseph C. Worth, chief financial officer of Champion Industries, 304-528-2791, or at home, 304-525-6771/

CO: Champion Industries, Inc.; Dallas Printing Co., Inc. ST: West Virginia, Mississippi IN: SU: TNM

CD -- PG004 -- 4580 09/22/93 10:13 EDT
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Publication:PR Newswire
Date:Sep 22, 1993

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