The world's biggest printer is now even bigger after acquiring billion-dollar business Consolidated Graphics.

RR Donnelley has paid US$620 million ($645 million) to acquire Consolidated Graphics, a 5,300-staff firm that operates 70 printing business across the US, Canada, Japan and the Czech Republic.

RR Donnelley has also taken on Consolidated Graphics' debt, which stands at US$106.1 million, according to the multinational's first-quarter results for 2013-14.

Consolidated Graphics posted a US$22.2 million profit on US$1 billion revenue for the 12 months to 31 March 2013.

The company became the talk of Drupa 2012 when it ordered 10 HP Indigo 10000 presses – four years after buying 36 Indigo presses at the previous Drupa.

RR Donnelley posted a US$741.9 million loss for the 12 months to 30 September 2013 as well as revenue of US$10.4 billion and net debt of US$3.1 billion.

[Related: Scott Print joins forces with RR Donnelley]

The 55,000-staff giant has manufacturing operations in North America, Latin America, Asia and Europe.

Chief executive Thomas Quinlan said Consolidated Graphics was an "exceptional fit" with RR Donnelley.

"This strategic combination will complement the RR Donnelley platform and further enhance our ability to provide integrated communications solutions for our valued clients across all industry verticals," he added.

Consolidated Graphics chief executive Joe Davis said both companies' clients would benefit from the deal.

"Our customers will benefit significantly from RR Donnelley's broad range of printing capabilities and our combined geographic footprint. RR Donnelley's customers will benefit from the planned adoption of Consolidated Graphics' local service model for all of its commercial printing group."

The deal still requires regulatory approval and the approval of Consolidated Graphics' shareholders.

[LinkedIn: Will we see more consolidation in the industry?]

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