CONSOLIDATED GRAPHICS INC /TX/
8-K, 1997-11-18
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): NOVEMBER 17, 1997

                           CONSOLIDATED GRAPHICS, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

         TEXAS                         0-24068               76-0190827
(STATE OR OTHER JURISDICTION   (COMMISSION FILE NUMBER)   (I.R.S. EMPLOYER
      OF INCORPORATION)                                   IDENTIFICATION NO.)

                             2210 WEST DALLAS STREET
                              HOUSTON, TEXAS 77019
              (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (713) 529-4200
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<PAGE>
ITEM 5.  OTHER EVENTS 

    On November 17, 1997, Consolidated Graphics, Inc. (the "Company") announced
that it had completed the acquisition of Walnut Circle Press, Inc. in
Greensboro, North Carolina. 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)  EXHIBITS

    The following exhibit is filed herewith:


    99  Press release of Consolidated Graphics, Inc. dated November 17,1997, 
        with respect to the Company's announcement that it had completed the
        acquisition of Walnut Circle Press, Inc. in Greensboro, North Carolina.

                                        1
<PAGE>
                                    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 HEREUNTO DULY AUTHORIZED.

                                               CONSOLIDATED GRAPHICS, INC.
                                                       (Registrant)
                                          By: /s/ HAROLD E. GAUBERT, JR.
                                                  Harold E. Gaubert,Jr   
                                                  Executive Vice President -
                                                  Finance and Administration

Date:  November 17, 1997

                                        2

                                                                      EXHIBIT 99
                        [MORGEN-WALKE ASSOC. LETTERHEAD]

News Release
                                            FOR:   Consolidated Graphics, Inc.

                                    APPROVED BY:   Ronald E. Hale, Jr.
                                                   Vice President & Treasurer
                                                   (713) 529-4200

                                        CONTACT:   Betsy Brod/Nancy Healy
                                                   Media: Stan Froelich
                                                   Morgen-Walke Associates, Inc.
                                                   (212) 850-5600

FOR IMMEDIATE RELEASE

                  CONSOLIDATED GRAPHICS ANNOUNCES COMPLETION OF
                         WALNUT CIRCLE PRESS ACQUISITION

     HOUSTON, TEXAS - November 17, 1997 -- Consolidated Graphics, Inc.
(NYSE:CGX) today announced that it has completed its previously announced
acquisition of Walnut Circle Press, Inc. in Greensboro, North Carolina.  Terms
of the transaction were not disclosed.

     Walnut Circle Press, a high quality, commercial sheet-fed printer, has
served the Piedmont Triad market since it was founded in 1977. The Company will
continue to be led by its existing management team, including Bruce Clapper as
President. Commenting on the announcement, Joe R. Davis, Chairman and Chief
Executive Officer, stated, "The acquisition of Walnut Circle Press continues to
demonstrate our commitment of selecting the highest quality companies in growing
markets."

     Consolidated Graphics is the fastest growing printing company in the United
States with 26 companies in 21 markets and annualized run-rate revenues in
excess of $250 million. A consolidator in a highly fragmented industry, the
Company adds value to its acquisitions through managerial and operational
expertise, financial strength and economies of scale.


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