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."