NEW
YORK, April 13, 2022 /PRNewswire/ -- ALJ
Regional Holdings, Inc. (NASDAQ: ALJJ) ("ALJ") announced
today that it has completed the previously announced sale of all of
the outstanding capital stock of its wholly owned subsidiary,
Phoenix Color Corp. ("Phoenix"), to Lakeside Book Company
("Lakeside"). Headquartered in Hagerstown, Maryland, Phoenix is a specialty printer of book
components, children's books, and other print-related products with
printing facilities in Indiana and
Maryland. The transaction was
completed pursuant to a Stock Purchase Agreement, dated
February 3, 2022, and was approved by
ALJ's stockholders at a special meeting held on April 11, 2022. Consideration paid by Lakeside to
ALJ at closing was approximately $136.4
million, subject to final working capital and indebtedness
adjustments.
About ALJ
ALJ Regional Holdings, Inc. is the parent company of Faneuil,
Inc., a leading provider of call center services, back office
operations, staffing services, and toll collection services to
commercial and governmental clients across the United States.
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SOURCE ALJ Regional Holdings, Inc
