Ennis Inc. has announced that two of its subsidiary companies have entered into a definitive agreement to acquire substantially all of the assets of Sovereign Business Forms and five related entities: TRI-C Business Forms, Houston; Falcon Business Forms, Corsicana, TX; Forms Manufacturers, Girard, KS; Mutual Graphics, Knoxville, TN; and Curtis Business Forms, Holyoke, MA.
Commercial printer company and personnel news from Printing Impressions’ November 2013 edition, featuring Walton Press, PostMark, SG360º, Ennis and Folder Express, Vanguard Printing
Last week, Ennis closed on the agreement to acquire the assets of the Folder Express from Wright Printing Company of Omaha, NE. The business generated approximately $20 million a year in sales during the most recent calendar year and will continue to operate under the Folder Express and other brand names in the current location.
Cenveo Inc. has executed a letter of intent to sell its Custom Envelope Division (CED) to Ennis Inc., a manufacturer of printed business products and apparel, headquartered in Midlothian, TX, for approximately $47.25 million in cash and the assumption of certain trade liabilities. In other Cenveo news, Robert Burton Jr. and Dr. Susan Herbst have been appointed to the company's board of directors.
Ennis Inc. has closed the agreement to acquire the assets of the Custom Envelope Group from Cenveo Corp. "The expansion of our envelope production and imprinting into the eastern United States gives us broader geographic reach to serve our customer base with this product," said Keith Walters, chairman, CEO and president of Ennis Inc.
Ennis Inc. has executed a definitive agreement to acquire the assets of Folder Express from Wright Printing of Omaha, NE. The closing, which is expected to be on or before September 30, 2013, is subject to the completion of normal pre-closing items. Folder Express will continue to operate at its current location in Omaha, NE.
STAMFORD, CT—Cenveo Inc. announced that it has executed a letter of intent to sell its Custom Envelope Division (CED) to Ennis Inc., a manufacturer of printed business products and apparel, headquartered in Midlothian, TX, for approximately $47.25 million in cash and the assumption of certain trade liabilities. The closing, which is expected to be on or before Sept. 27, is subject to the completion of normal due diligence procedures and the consummation of a definitive purchase agreement between the two parties.
Cenveo Inc. has executed a letter of intent to sell its Custom Envelope Division to Ennis Inc., for approximately $47.25 million in cash and the assumption of certain trade liabilities. "This divestiture allows Cenveo to focus on our direct and office product envelope businesses, our integration of National Envelope and our other core operations," stated Cenveo Chairman and CEO Robert G. Burton Sr.
Ennis Inc. has reported that print sales were down 6.8 percent on a comparable quarter basis, from $87.3 million to $81.4 million, but were up 2.0 percent on a sequential quarter basis from $79.8 million.
Ennis had consolidated net sales of $138.3 million in the second quarter, compared to $130.4 million for the second quarter ended August 31, 2011, or an increase of 6.1 percent. Print sales increased 24.3 percent for the quarter, to $86.0 million from $69.2 million.
