Quad/Graphics (QUAD) said Monday it completed the sale of its European operations to investment managing firm Capmont for 41 million euros ($42 million), with $14 million received at closing.

The company said the sale includes Quad's print and ink manufacturing operations in Poland, the Peppermint agency in Warsaw, and Quad POS, which has locations across Europe.

Quad's shared services employees in Poland are not part of the transaction, the company said.

The company said it plans to use the proceeds to reduce debt and invest in its marketing services.

QUAD shares were 0.6% higher in recent trading.

Price: 6.32, Change: +0.04, Percent Change: +0.56