Banta Corporation
Encyclopedia
Banta Corporation was a major printing, imaging, and supply chain management company of the United States
, based in Menasha, Wisconsin
for all of its 105 years. Founded in 1901, it was acquired by Chicago
-based RR Donnelley in late 2006.
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.
Much of the company's early growth came from educational contracts. George Banta, a member of Phi Delta Theta
at Indiana University
, secured a contract to print its national magazine, The Scroll. 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. In 1910 it moved to a new building, where its headquarters would remain for nearly the remainder of the century. The elder Banta had helped found the Phi Delta Theta fraternity.
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. In 1954, it adopted the name George Banta Company, Inc. and in 1971 it went public, traded on NASDAQ
as BNTA. After 27 years, it moved to the New York Stock Exchange
on December 18, 1998, where it traded under the symbol BN for the next eight years.
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
.
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. Instead, it accepted a $1.3 billion offer from major competitor RR Donnelley in October, at $52.50 cash per share ($36.50 plus a $16 special dividend).
The cash deal was fortuitous for Banta shareholders, as the value of RR Donnelley stock declined considerably in 2008.
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, based in Menasha, Wisconsin
Menasha, Wisconsin
Menasha is a city in Calumet and Winnebago Counties in the U.S. state of Wisconsin. The population was 16,331 at the 2000 census. The city is located mostly in the Town of Menasha in Winnebago County; only a small portion is in the Town of Harrison in Calumet County. Doty Island is located...
for all of its 105 years. Founded in 1901, it was acquired by Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
-based RR Donnelley in late 2006.
History
George BantaGeorge Banta
George Banta was the founder of the George Banta Company and an influential figure in the development of the collegiate Phi Delta Theta fraternity and Delta Gamma women's fraternity.-Biography:...
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.
Much of the company's early growth came from educational contracts. George Banta, a member of Phi Delta Theta
Phi Delta Theta
Phi Delta Theta , also known as Phi Delt, is an international fraternity founded at Miami University in 1848 and headquartered in Oxford, Ohio. Phi Delta Theta, Beta Theta Pi, and Sigma Chi form the Miami Triad. The fraternity has about 169 active chapters and colonies in over 43 U.S...
at Indiana University
Indiana University
Indiana University is a multi-campus public university system in the state of Indiana, United States. Indiana University has a combined student body of more than 100,000 students, including approximately 42,000 students enrolled at the Indiana University Bloomington campus and approximately 37,000...
, secured a contract to print its national magazine, The Scroll. Other national fraternities and sororities
Fraternities and sororities
Fraternities and sororities are fraternal social organizations for undergraduate students. In Latin, the term refers mainly to such organizations at colleges and universities in the United States, although it is also applied to analogous European groups also known as corporations...
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
Baird's Manual of American College Fraternities
Baird's Manual of American College Fraternities is a compendium of fraternities and sororities in the United States and Canada first published in 1879. It covers national and international general , professional, and honor fraternities, including defunct organizations, with an overview of each...
. 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. In 1910 it moved to a new building, where its headquarters would remain for nearly the remainder of the century. The elder Banta had helped found the Phi Delta Theta fraternity.
In the 1920s, one of George Banta, Jr.'s brothers-in-law, Russell Sharp, created an elementary school workbook
Workbook
Workbook is the title of Bob Mould's first solo album after leaving Hüsker Dü. The album is primarily acoustic and has a strong folk influence - very different from much of his group's heavier music. The single "See a Little Light" was a hit on the US Modern Rock chart...
and turned to Banta Publishing to print it. Its expertise in publishing them helped make it a leader in production of other softcover books. In 1954, it adopted the name George Banta Company, Inc. and in 1971 it went public, traded on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
as BNTA. After 27 years, it moved to the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
on December 18, 1998, where it traded under the symbol BN for the next eight years.
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
Parker Brothers
Parker Brothers is a toy and game manufacturer and brand. Since 1883, the company has published more than 1,800 games; among their best known products are Monopoly, Cluedo , Sorry, Risk, Trivial Pursuit, Ouija, Aggravation, and Probe...
board game
Board game
A board game is a game which involves counters or pieces being moved on a pre-marked surface or "board", according to a set of rules. Games may be based on pure strategy, chance or a mixture of the two, and usually have a goal which a player aims to achieve...
Trivial Pursuit
Trivial Pursuit
Trivial Pursuit is a board game in which progress is determined by a player's ability to answer general knowledge and popular culture questions. The game was created in 1979 in Montreal, Quebec, Canada, by Canadian Chris Haney, a photo editor for Montreal's The Gazette and Scott Abbott, a sports...
.
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. Instead, it accepted a $1.3 billion offer from major competitor RR Donnelley in October, at $52.50 cash per share ($36.50 plus a $16 special dividend).
The cash deal was fortuitous for Banta shareholders, as the value of RR Donnelley stock declined considerably in 2008.
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. The company's final chairman & CEO was Stephanie StreeterStephanie Streeter
Stephanie Streeter is interim Chief Executive Officer of the United States Olympic Committee.She has been on the U.S. Olympic Committee board since May 2004, and was involved in supporting the teams at the 2008 Summer Olympics and Paralympic Games, and has been on the board of the group bidding to...
.