Ennis Closes on Folder Express Acquisition
MIDLOTHIAN, TX—October 1, 2013—Ennis has closed on the agreement to acquire the assets of the Folder Express from Wright Printing Company of Omaha, NE. The business produces folders and specialty folders for music stores and public schools. The closing occurred September 30, 2013, involving the purchase of assets and assumption of certain liabilities. Ennis will continue to stay in the current location in Omaha, NE, occupying the facility under a lease.
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.
“We are very pleased to have closed this transaction," commented Keith Walters, chairman, CEO and president of Ennis. "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 in. 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.”
Ennis (NYSE: EBF) is primarily engaged in the production of 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, TX, 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: the Print Segment and Apparel Segment. The Print Segment is primarily engaged in the business of manufacturing and selling 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.