To find out more about Transcontinental Inc.’s purchase of Redwood Custom Communications, a deal announced this morning, we spoke with Eric Schneider, CEO of Redwood Custom Communications and Isabelle Marcoux, vice president of corporate development at Transcontinental. Details after the break.
- Transcontinental purchased Redwood’s North American operations from parent company Omnicom Group. Schneider has a 25% equity stake. Redwood’s U.K. operations remain under Omnicom.
- All printing contracts for Redwood operations will eventually be transferred to Transcon. Currently, St. Joseph Media, Quebecor World and Transcontinental handle Redwood’s printing.
- Redwood and Transcontinental Custom Communications will function separately “for now,” Marcoux said.
- Redwood will eventually be rebranded under the Transcontinental banner.
- All 130 Redwood staff will remain with the company.
- Redwood’s offices will remain in downtown. “They have a great location,” Marcoux said. (There has been widespread speculation that Transcontinental plans to shift its Toronto operations downtown as soon as possible.)
- Unfortunately, they still wouldn’t disclose the sale price.