28 August 2013
More on Advertek and Peel Graphics
VAUGHAN, ON—Advertek Printing announced its acquisition of Peel Graphics assets last week, following a bankruptcy filing by Peel. In an exchange with PrintCAN, Advertek's Joe Montalbano revealed a few more details.

While Montalbano said he could not confirm specific asset acquisitions at this time, the Advertek principal and director of sales clarified that some of Peel's assets were left on the block. "We are taking most assets but not all," said Montalbano. Peel filed for bankruptcy on Aug. 9, and Advertek made its acquisition on Aug. 12. PrintCAN looks to obtain more details in the coming weeks.

Montalbano added that "most" of Peel Graphics' staff were given offers of employment. Advertek had 40 employees before the deal and has hired 35 former Peel workers, nearly doubling its workforce. As previously reported, Peel president Andrew Cook and general manager Susan Nyilas are among the staff that has moved over, and C.J. Graphics has confirmed it has hired some former Peel employees, albeit prior to Peel's closure.

The acquisition is part of a growth strategy that Montalbano and co-principal Simon Spina began planning a few years ago. "With respect to Peel, it was on the block at the right time," Montalbano said. Advertek hopes to make more merger and acquisition announcements soon, he added.

The company also looks to expand on its current real estate, which includes a 30,000 sq. ft. facility plus a 10,000 sq. ft. space across the street. "We've taken over more space (the 10,000 sq. ft. location used to be half that size), and we're looking to either build another building, or secure another 30,000 square feet," Montalbano said. "We're looking at our options."
Comments:
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16. Strange Brew says:
30 September 2013 at 7:57 AM
I don't think anyone is blaming Advertek, they have done a good thing by taking on some employees, however the concern is that this is now too much of an additional financial stretch for them. So suppliers get leery. Worry about getting burned again. I wish everyone well in this industry, but reality suggests that further struggles are on the way for many.
15. Gerald says:
23 September 2013 at 1:19 PM
I have seen so much in this industry and listened to many people that have their views. The industry is and always was a tenuous business, as the suppliers allow companies to start with credit that existing clients can't get, as the equipment industry is so expensive they have to do something to keep themselves solvent, even if it is debts that they base their value on. What happened is not new, as entrepreneurs work on a different concept, a little like gambling. The losers are the dealers that handed out the cards, and then the few small ones that base their business on the practices of the big guys in order to exist. Don't blame Advertek, as it is always easy to point the finger, and in this case the finger pointing serve no purpose except to justify blaming your competition. Print became a commodity because the industry allowed it. Some printers don't sell a commodity, and they will survive, as they work with clients to produce their message not based on how much does it cost. Instead they realize what it costs to acquire and maintain a relationship with their clients.
14. Lithos says:
19 September 2013 at 6:57 PM
Old scam: build up receivables at suppliers expense, kill genuine printers with such low prices, but gets owners off the hook
13. Ron Sharpe says:
17 September 2013 at 10:47 AM
Companys like this are very aware that they are going out of business, long before they do. This is fraud, pure and simple. There should be a website where suppliers can report late or delinquent payers to let the others beware of these type of fraudsters...really hurts the legit companies.


12. Seriously says:
16 September 2013 at 8:56 PM
Peel's biggest mistake was taking on board some of the Acuity employees [and] that is what tanked them . They fired them a bit too late.
11. Honest Worker says:
11 September 2013 at 3:49 PM
It is terrible what has taken place. I have been in business for over 40 years and have seen both good and bad times and even when times are at their toughest I would never think of leaving my suppliers holding the bill for what I have done wrong and move on preaching what we have done is for the good. Don't think you have gone unnoticed with what you have done to the hard working companies that were doing okay until you screwed up and left them holding the bill. Thank goodness I did not get hurt by your brilliant business decisions, however I do know of some of the people you have in fact hurt and they will be suffering while you move on to perhaps do it again.
10. King says:
4 September 2013 at 9:52 AM
in so glad,,that was the worst place i ever worked.only a few good people worked there and not the management/owners/livestock i'm talking about. i do not wish them luck/
9. Imagemaker says:
31 August 2013 at 10:32 AM
As a former Peel employee- only one comment... out of 35 hired, only 4-5 are trustworthy...the rest are in the office...lol
8. Really! says:
30 August 2013 at 9:36 AM
So Advertek hires 35 Peel employees.... what happened to the Peel Markham employees that were fired over the PHONE on a Sunday of a long weekend??  I welcome your rebuttal! can't wait to read the next chapter of this story!
7. Strange Brew says:
29 August 2013 at 11:08 AM
COD COD COD, once bitten twice shy
6. Printcan Web Editor says:
29 August 2013 at 10:50 AM
Hi everyone, thank you for the comments. Keep them coming. Please note though that we do moderate comments for libelous content. Comments may be deleted or edited.
5. Well Known In The Market says:
28 August 2013 at 5:56 PM
Two years ago, Peel purchased equipment from Acuity Soutions when they went bankrupt. They also hired former employees of Acuity. Before Acuity went out of business, they were selling products at way below market prices, which in-turn screwed up the whole market. Peel was doing the exact same thing before they tanked. Suppliers take the worse of it, and are forced to increase prices due to unlawful owners.
4. Tj says:
28 August 2013 at 4:25 PM
Scam
3. Lol says:
28 August 2013 at 3:41 PM
Assets? What assets! Please all you suppliers save yourselves now. Demand COD or you will be on the 'list' soon
2. Stuck says:
28 August 2013 at 3:37 PM
Interesting that you would hire on the people who ran the business under. I am referring to the managers and not the employees.
1. Lame Attempt says:
28 August 2013 at 3:36 PM
A sorry statement after what was said last week.
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