Ennis Acquires Independent Printing Company in a Stock Purchase Transaction
MIDLOTHIAN, Texas — January 30, 2017 — Ennis Inc. announced the purchase of Independent Printing Company, Inc. and related entities in a stock purchase transaction that closed January 27, 2017. The majority stockholder was a private equity firm in New York. Independent has four locations in Wisconsin, with its main facility located in DePere, Wis.
The business produces presentation folders, checks, wide-format and commercial printing. Independent had sales of approximately $37 million for the calendar year just ended and sells mainly through distributors and resellers. The Company will now have four folder facilities in Michigan, Kan., California and Wisconsin, as well as wide-format capabilities in Colorado and Wisconsin.
Keith Walters, chairman, president and CEO of the Company stated, “we are delighted to have the opportunity to combine Independent with the other operations of Ennis. With this acquisition we will continue to be the preeminent provider of all types of presentation folders in the marketplace. The addition of the wide-format operation will add to the capabilities of our existing operations, which should help us to continue to penetrate the point-of-purchase and screen print marketplaces.”
The operations will continue under the Independent and related entity names. All of the locations will continue their normal operations.