Royall & Co. will be purchased by Washington, D.C.-based The Advisory Board Co. in a combination cash and stock deal.
Henrico-based Royall & Co., a company that provides direct mail marketing services for almost 300 colleges and universities across the country, announced Thursday the firm is being acquired.
The Richmond Times-Dispatch reports that the company, started by William A. Royall, Jr. in 1983, is being purchased by The Advisory Board Co. based in Washington, D.C. for $850 million.
Little should change in terms of day to day operations, though. The firm will retain its name, remain headquartered in the Richmond area, and continue to employ approximately 300 workers.
The publicly-traded Advisory Board Co. will acquire Royall & Co. for $750 million in cash and offer $100 million in stock shares.
Photo: Royall & Co.