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Montreal, August 31, 2006 – Transcontinental announced
today it has acquired Chenelière Éducation,
the largest French-language educational resources publisher
in Canada. Chenelière Éducation is a leader
in the creation, development, adaptation, translation, publishing,
promotion and distribution of French-language educational
resources. The company publishes educational texts and related
materials for all education sectors, from kindergarten to
university, including teachers’ resources, adult education,
and vocational training.
Chenelière Éducation is the privileged partner
of Francophone education and French-immersion programs across
Canada. The company works with professionals from these fields
in every Canadian province and territory. The 5500 titles
in Chenelière Éducation’s catalogue are
the result of the work of more than 2000 authors and are used
in the vast majority of French-language educational institutions
across Canada. Founded by Michel de la Chenelière in
1984, the company has grown quickly in the past few years
through internal initiatives, the acquisition of such well-known
publishers as McGraw-Hill Éditeur (the French-language
division of McGraw-Hill Ryerson), Gaëtan Morin Éditeur,
Publications Graficor and Groupe Beauchemin, and through important
investments in textbook development for the Quebec market,
notably in the context of the current curriculum reform. The
company employs about 190 people in the Montreal region and
in 2006, its revenues were close to $50 million.
“For Transcontinental, the acquisition of Chenelière
Éducation instantly makes us a market leader in French-language
educational resources publishing while also helping us diversify
our media sector’s revenue base into non-advertising-related
revenue streams,” said Luc Desjardins, president and
CEO of Transcontinental Inc. “Chenelière’s
strong management team have built a solid company that is
well diversified both geographically and by the subjects and
educational niches it covers. Transcontinental has ensured
that the current management team, led by president and general
manager Jacques Rochefort, will stay on to develop and grow
this segment with us. The company has a consistent track record
of generating strong cash flow and should be accretive to
earnings in the first year. As Transcontinental is already
a book publisher and printer, this acquisition represents
a natural development of our product and service offering.”
For his part, Michel de la Chenelière, executive chairman
and founder of Chenelière Éducation, said: “I
am proud that the company I founded is joining the Transcontinental
family, a well-established company who, as our principal printer
over the past 20 years, we have developed a strong business
relationship with, and who have strong values we share. For
us, Transcontinental represents a perfect fit to continue
and expand the success we have established.”
Chenelière Éducation will become part of Transcontinental
Media, one of Transcontinental’s three sectors of operation
that comprises the company’s magazine, newspaper and
book publishing activities as well as its digital properties
and door-to-door advertising material distribution network.
Jacques Rochefort, president and general manager of Chenelière
Éducation, added: “We are very pleased that our
new owner, Transcontinental, has decided to invest in education,
a fast-growing environment thanks to the high priority it
holds for all Canadians. Transcontinental’s commitment
to continue to grow this new segment of its media sector is
excellent news for all of Chenelière Éducation’s
employees and partners. Strengthened by Transcontinental,
we will continue to serve the needs of Canada’s teachers
and students. We are excited to be part of the fourth-largest
print media group in Canada and look forward to contributing
to the continued success of Transcontinental Media.”
Conference Call for the Financial Community
Transcontinental will hold a conference call with the financial
community today at 1:30 p.m. There will be a simultaneous
audio broadcast on Transcontinental's website, transcontinental.com,
which will be archived for 30 days. The call-in number is
(416) 644-3416.
About Transcontinental
The largest printer in Canada and seventh largest in North
America, Transcontinental is also the country’s leading
consumer magazine publisher and second-largest community newspaper
publisher. Transcontinental distinguishes itself by creating
strategic partnerships that integrate the company into its
customers’ value chain, notably through its unique newspaper
printing outsourcing model and its value-added services. From
mass to highly personalized marketing, the company offers
its clients integrated solutions which also include a diverse
digital platform and a door-to-door distribution network of
advertising material. Transcontinental is a company whose
values, including respect, innovation and integrity, are central
to its operation.
Transcontinental (TSX: TCL.A, TCL.B) has more than 14,000
employees in Canada, the United States and Mexico, and reported
revenues of C$2.2 billion (US$1.9 billion) in 2005.
About Chenelière Éducation
A French-language publisher of educational resources, Chenelière
Éducation has more than 2000 authors writing for every
level of education. Its catalogues list more than 5500 titles
from well-known names such as Beauchemin, Chenelière
Éducation, Chenelière/McGraw-Hill, Gaëtan
Morin Éditeur and Graficor. Attentive to the needs
of all educators, Chenelière Éducation works
with over 200 publishing professionals whose primary mission
is to satisfy the needs of teachers and students by producing
innovative and high-quality pedagogical materials and resources.
Responsive to all educational areas, from preschool to university
and including adult education, the business sector and didactic
materials, its publications are used in over 5000 French educational
and immersion institutions in Canada, and are distributed
throughout French-speaking Europe and the United States.
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For Information:
Media
Jake Brennan
Media Relations Coordinator
Transcontinental Inc.
Telephone: (514) 954-4000
jake.brennan@transcontinental.ca
Financial Community
Stéphane Milot
Director, Investor Relations and
External Communications
Transcontinental Inc.
Telephone: (514) 954-2821
stephane.milot@transcontinental.ca
Chenelière Éducation
Michel de la Chenelière
Executive Chairman and Founder
Chenelière Éducation
Telephone: (514) 273-1066, ext. 2218
mdelacheneliere@cheneliere.ca
www.cheneliere.ca
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