Banta Corporation
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Banta Corporation was a major printing, imaging, and supply chain management company of the United States, based in Menasha, Wisconsin. Founded in 1901, it was acquired by Chicago-based RR Donnelley in 2006.
[edit] History
George Banta began printing forms while working as an insurance agent. In 1901 he opened a storefront and formed the George Banta Printing Company, renamed two years later the George Banta Publishing Company.[1]
Much of the company's early growth came from educational contracts. George Banta, a member of Phi Delta Theta, secured a contract to print its national magazine. Other national fraternities and sororities followed; the company would also publish Banta's Greek Exchange, a monthly review of fraternity and sorority news, and several editions of Baird's Manual of American College Fraternities. George's father was dean of the Indiana University School of Law, and through this connection the company also won orders for university catalogs and yearbooks, textbooks, and magazines.[1] In 1910 it moved to a new building, where its headquarters would remain for nearly the remainder of the century.
In the 1920s, one of George Banta, Jr.'s brothers-in-law, Russell Sharp, created an elementary school workbook and turned to Banta Publishing to print it. Its expertise in publishing them helped make it a leader in production of other softcover books.[1] In 1954, it adopted the name George Banta Company, Inc. and in 1971 it went public, trading on the New York Stock Exchange under the symbol BN.
Starting in 1969, the Banta Company began a program of acquisitions of imaging and printing-related companies as well as manufacturers of packaging, paper products, and display equipment. It also diversified within its print business, printing catalogs, trade books, and the Parker Brothers board game Trivial Pursuit.[1]
As the printing industry declined in the early 21st century, Banta spun off several units to focus on its core businesses. In August 2006, Connecticut-based envelope printer Cenveo made an unsolicited offer to buy the company, but Banta's management considered it hostile.[2] Instead, it accepted a $1.3 billion offer from major competitor RR Donnelley in October.[3]
[edit] Family company
George Banta remained president until his death in 1935. His wife Nellie, who ran day-to-day operations from 1904 to 1911, assumed the presidency afterwards until her death in 1951. Their son, George Banta, Jr., joined the company in 1911 and served as president from 1951 to 1961. In 1965, George, Jr.'s son George Banta III took over, stepping aside to become chairman in 1968, where he remained until 1983.
[edit] References
- ^ a b c d "Banta Corporation." International Directory of Company Histories. The Gale Group, Inc. 2006
- ^ Gores, Paul. "Cenveo Inc. offers $1.1 billion for Banta," Milwaukee Journal Sentinel, August 10, 2006
- ^ Associated Press. "Printing firm Donnelley to acquire Banta in $1.3 billion deal," October 31, 2006
