Donnelley & Sons to sell DLS Worldwide Logistics

CHICAGO - R.R. Donnelley & Sons Co. Tuesday announced it has agreed to sell its DLS Worldwide Logistics business to TFI International for $225 million in cash.

The transaction does not include R.R. Donnelley's International Mail and Parcel Logistics business and is expected to close within the next 60 days pending regulatory approvals and other customary closing conditions. The agreement stipulates 10% of the purchase price will be held in escrow while the remainder will be paid at closing.

DLS Worldwide is a platform providing logistics services through a third-party network of internal sales personnel, commissioned sales agents and about 140 agent locations. DLS' primary transportation modes include truck delivery, freight forwarding, expedited delivery and parcel delivery. DLS Worldwide reported net sales, excluding intercompany transactions, of about $530 million for the 12 months ended June 30.

R.R. Donnelley previously sold its Print Logistics business in July of 2018 and its Courier Logistics business in March of 2020, in addition to its UK-based Global Document Solutions business in October of 2019.

"The sale of our DLS Worldwide business further demonstrates our strategic focus and ongoing commitment to optimize our business portfolio, reduce debt and improve liquidity, all while remaining strongly positioned as an industry leading provider of marketing and business communications," said Dan Knotts, R.R. Donnelley's president and chief executive officer.