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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 18, 1999
AMERICAN BUSINESS PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
GEORGIA 1-7088 58-1030529
(State of (Commission File No.) (I.R.S. Employer
incorporation) Identification No.)
2100 RIVEREDGE PARKWAY, SUITE 1200
ATLANTA, GEORGIA 30328
(Address of principal executive offices, including zip code)
(770) 953-8300
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On March 18, 1999 the Registrant announced that it has signed a
definitive agreement to acquire Tekkote Corp., a manufacturer of coated
and printed products for use in packaging and related fields. The
acquisition is expected to be completed during the second quarter. The
terms of the transaction were not disclosed.
Details are contained in the Press Release, issued March 18, 1999 filed
as Exhibit 99 hereto and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
The following exhibit is filed herewith:
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EXHIBIT NO. DESCRIPTION
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99 Press Release, issued March 18, 1999
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SIGNATURE
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, thereunto duly authorized.
AMERICAN BUSINESS PRODUCTS, INC.
Dated: March 24, 1999 /s/ Richard G. Smith
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Richard G. Smith
Vice President and Chief Financial Officer
2
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EXHIBIT INDEX
The following exhibits are filed as part of this Report.
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EXHIBIT NO. DESCRIPTION PAGE NO.
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99 Press Release, issued March 18, 1999
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EXHIBIT 99
AMERICAN BUSINESS PRODUCTS, INC.
[ABP LOGO] POST OFFICE BOX 105684 ATLANTA, GEORGIA 30348
(770) 953-8300 FAX (770) 952-2343
Contact: Richard G. Smith
Chief Financial Officer
American Business Products
(770) 953-8300
FOR IMMEDIATE RELEASE
Ed Bisno/Theresa Schillero
Media Contact: Eileen King
Morgen-Walke Associates, Inc.
(212) 850-5600
AMERICAN BUSINESS PRODUCTS EXPANDS SPECIALTY PACKAGING BUSINESS WITH
AGREEMENT TO ACQUIRE TEKKOTE CORP.
Atlanta, GA, March 18, 1999 - American Business Products (NYSE:ABP)
today announced that it has signed a definitive agreement to acquire Tekkote
Corp., a manufacturer of coated and printed products for use in packaging and
related fields. The acquisition will enable ABP to offer a broad line of release
liner products used in pressure sensitive applications and packaging. The
transaction is consistent with the Company's strategy to pursue accretive
acquisitions that expand and strengthen its capabilities in the specialty
packaging business. Headquartered in Leonia, New Jersey, Tekkote Corp. generates
over $30 million in annual revenue. The acquisition is expected to be completed
during the second quarter. The terms of the transaction were not disclosed.
Larry Gellerstedt, Chairman and Chief Executive Officer of American
Business Products, commented, "The addition of Tekkote's product line along with
its entrepreneurial management team illustrates our commitment to expand our
packaging capabilities. While we have seen reduced demand recently in some of
our coating business' more mature markets, Tekkote will give us entry to new
growth markets and is expected to be accretive to earnings in its first year.
Tekkote has significant proprietary expertise in silicone coating chemistry and
narrow web slitting capability, and currently supplies release liners to the
packaging industry, including ABP's soft goods packaging company, and other
major industries such as health care and building products. We believe that the
potential for growth in these markets is significant and that Tekkote will
benefit from an association with the other ABP companies."
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American Business Products, Inc. is a leading supplier of specialty
packaging and printed office products. ABP's specialty packaging companies
include: Jen-Coat, Inc., a leader in extrusion coating and laminating of
packaging and other products; International Envelope Company, the world's
largest converter of Tyvek(R) mailers and other soft packages; and Discount
Labels, Inc., the largest short-run custom label producer in the U.S. ABP's
printed office products business, Curtis 1000 Inc., is a leader in
direct-to-user marketing of custom-printed envelopes and labels, digital
document services and business forms.
This press release contains certain forward-looking statements, including
statements relating to the future financial results of the Company. Caution
should be taken in relying upon forward-looking statements in this release
because they involve a number of risks and uncertainties that could cause actual
results to differ materially from any such statements. These risks and
uncertainties include the Company's ability to successfully integrate and
operate Tekkote's business, the Company's ability to identify, evaluate,
negotiate, integrate and operate other strategic acquisitions, and conditions
and developments in the specialty packaging business and the general economy.
Additional risk factors are detailed in the Company's periodic filings with the
Securities and Exchange Commission, including those risks identified in the
section captioned, "Management's Discussion and Analysis of Financial Condition
and Results of Operations" in the Company's annual report on Form 10-K for the
year ended December 31, 1998, which discussion is incorporated in this release
by reference.
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