CUNNINGHAM GRAPHICS INTERNATIONAL INC
8-K, 1999-03-26
COMMERCIAL PRINTING
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   ----------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                Date of Report (Date of earliest event reported):
                                 March 12, 1999

                     CUNNINGHAM GRAPHICS INTERNATIONAL, INC.
               (Exact name of Registrant as specified in Charter)


         New Jersey                  0-24021                     22-3561164     
(State or Other Jurisdiction       (Commission                  (IRS Employer   
      of Incorporation)           File Number)               Identification No.)
                                                                 

629 Grove Street, Jersey City, New Jersey                          07310    
 (Address of principal executive office)                         (Zip Code)
                                                                    

Registrant's telephone number including area code: (201) 217-1990


           ____________________________________________________________
          (Former name or Former Address, if Changed Since Last Report)



<PAGE>


Item 5. Other Events

     On March 12, 1999, Cunningham Graphics International, Inc. (the "Company")
announced the completion of the acquisition of Griffin House Graphics Limited of
Toronto, Canada. A copy of the press release is attached hereto as Exhibit 99.

     The attached press release may contain forward-looking information. Readers
are cautioned that such information involves risks and uncertainties, including
the possibility that events may occur which preclude completion of pending or
future acquisitions by the Company.

Item 7. Financial Statements and Exhibits

     (a)  Exhibit

     The following exhibit is filed herewith:

     99   Press release of Cunningham Graphics International, Inc. dated March
          12, 1999, related to the completion of the acquisition of Griffin
          House Graphics Limited of Toronto, Canada.


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                        Cunningham Graphics International, Inc.
                                        ---------------------------------------
                                                     (Registrant)
                     

Dated: March 26, 1999                   By: /s/ Robert M. Okin         
                                            ---------------------------
                                            Name:  Robert M. Okin
                                            Title:  Senior Vice President
                                            and Chief Financial Officer





NEWS RELEASE
FOR IMMEDIATE RELEASE                   Contact: Robert Okin
                                                 Chief Financial Officer
                                                 201-217-1990 Ext. 305

                                                 Vince Daniels / John Nesbett
                                                 Lippert/Heilshorn & Associates
                                                 212-838-3777

           CUNNINGHAM GRAPHICS INTERNATIONAL ACQUIRES CANADIAN PRINTER

     JERSEY CITY, NJ - March 12, 1999 - Cunningham Graphics International, Inc.
(NASDAQ NM: CGII) announced today that it has completed the acquisition of
Griffin House Graphics Limited ("Griffin House"), a high quality, commercial
printer located in Toronto, Canada.

     Griffin House is the leading provider of printing and distribution services
to the financial services industry in Canada including major Canadian banks and
mutual funds. The Company's facility is strategically located in Toronto's
financial center and has the capacity to efficiently service a significant
increase in future sales. The Company has made continuous investments in
state-of-the-art equipment. Griffin House has been owned and operated by the
Griffin family since 1944 and the current management team will continue to
direct operations as a subsidiary of Cunningham Graphics International.

     Michael Cunningham, Chairman and Chief Executive Officer of Cunningham
Graphics International, commented, "Griffin House is a well-run, successful
printing company in a growing market and has an excellent reputation. The
acquisition of Griffin House is a great addition to our World Research Link (TM)
and will allow us to expand our unique distribution and print technologies into
Canada. The Company's high quality customer base in the financial services
industry will allow us to capitalize on significant cross-selling opportunities.
Our businesses are similarly aligned on an operating basis, and we are therefore
confident in our ability to realize operating efficiencies quickly."

     Management expects Griffin House's 1999 revenues to be in excess of $5
million and to be accretive to Cunningham Graphics International's 1999
earnings. Inclusive of this acquisition, Cunningham Graphics International's
annualized revenues are in excess of $80 million. Terms of the transaction were
not disclosed.


<PAGE>



     Griffin House will become a member of the World Research Link (TM). The
World Research Link (TM), founded by Cunningham Graphics in 1994, facilitates
the expeditious printing and distribution of time-sensitive documents throughout
select international financial markets. Through the use of high-speed electronic
links among the Company's facilities in Canada, Hong Kong, Singapore, the United
Kingdom and the United States, the Company is able to print research reports
concurrently through these principal international financial markets while
eliminating certain distribution costs.

     Cunningham Graphics International is a leading consolidator in the
fragmented graphic communications industry and Griffin House is the Company's
third acquisition in the first three months of this year. The Company previously
announced the acquisition of Boston Towne Press, a high quality, commercial
printer for major institutional customers in New England and Workable Company
Limited, a full service printing company with operations in Hong Kong and
Singapore specializing in the printing of financial research reports. 

     Cunningham Graphics International provides time-sensitive printing and
distribution, commercial printing, and outsourcing services to a blue-chip
client base in the financial services, insurance and publishing industries. The
Company currently operates in select international markets through its
facilities in the United States, the United Kingdom, Hong Kong, Singapore and
Canada. Graphic communication services provided by the Company include digital
communications, document management, offset printing, digital printing, data
output, bindery, fulfillment services, mailing services and outsource services.

This press release may contain forward-looking statements, which involve known
and unknown risks, uncertainties or other factors that could cause actual
results to materially differ from the results, performance or other expectations
implied by these forward-looking statements. Factors which could cause or
contribute to such differences include, but are not limited to, continued demand
for its services, the availability of raw materials, the impact of competitive
services and pricing, risks in technology development, changing economic
conditions and other risk factors detailed in the Company's filings with the
Securities and Exchange Commission.

                                      # # #


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