Ennis Completes Two Acquisitions
Financial Terms Of Deal Not Released
Counselor Top 40 supplier Ennis (asi/52493) announced last week that it has completed two company acquisitions. On September 30, Ennis closed on its agreement to acquire the assets of Folder Express from Wright Printing Company of Omaha, NE.
While financial terms of the deal were not released, Ennis said that the Folder Express business generated approximately $20 million in sales during the most recent calendar year and will continue to operate under the Folder Express and other brand names.
"We are very pleased to have closed this transaction," said Keith Walters, president and CEO of Ennis Inc. "Expanding our folder operations makes us one of the largest producers of this product in the market and gives us another state in which we operate. These products are sold through our normal sales channel of independent distributors. Overall we feel very excited to bring the Folder Express line to our distributor channel."
In a separate transaction, Cenveo Inc. announced that it has completed the previously announced sale of its Custom Envelope Group to Ennis. Financial terms of the deal were not released. The Custom Envelope Group was comprised of the Wisco brand of envelopes, produced in Tullahoma, TN, and the National Imprint Company, operating out of Claysburg, PA. Ennis said that the business generated about $40 million in sales during its most recent calendar year.
Ennis, which is also the parent company of industry wearables supplier Alstyle Apparel (asi/34817), currently ranks as the industry's fifth-largest supplier, after reporting to Counselor that it recorded North American ad specialty sales of $235.3 million in 2012.