Ennis signs agreement to acquire assets of Folder Express brand from Wright Printing in Omaha, Nebraska, to expand geographic presence, increase sales in folder products; sale expected to close by Sept. 30
September 25, 2013
– Ennis, Inc. (the “Company"), (NYSE: EBF), today announced that it has executed a definitive agreement to acquire the assets of Folder Express (www.folderexpress.com) from Wright Printing Company of Omaha, Nebraska. 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, Nebraska.
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 brand name.
Keith Walters, Chairman, Chief Executive Officer and President of Ennis, Inc., commented by stating, “We are very pleased to add Folder Express to the Ennis family of brands. With our other folder operations in Michigan and California, this expands our geographic presence as well as significantly increasing our sales in folder products. Although these products are sold through our normal sales channel of independent distributors, Folder Express’ go to market strategy is differentiated from our other folder operations bringing many new customers. Overall we feel very excited to bring the Folder Express brand to our existing distributor channel while delivering Folder Express customers access to the entire Ennis network.”
Ennis, Inc. (www.ennis.com) is primarily engaged in the production and sale of business forms, apparel and other business products. The Company is one of the largest private-label printed business product suppliers in the United States. Headquartered in Midlothian, Texas, the Company has production and distribution facilities strategically located throughout the United States of America, Mexico and Canada, to serve the Company’s national network of distributors. The Company, together with its subsidiaries, operates in two business segments: print and apparel. The print segment manufactures and sells business forms, other printed business products, printed and electronic media, presentation products, flex-o-graphic printing, advertising specialties and Post-it® Notes, internal bank forms, plastic cards, secure and negotiable documents, envelopes and other custom products. The apparel segment manufactures T-Shirts and distributes T-Shirts and other active-wear apparel through nine distribution centers located throughout North America.