Ennis Completes Block Deal
MIDLOTHIAN, TX—Business forms specialist Ennis Inc. has completed the acquisition of Block Graphics of Denver for approximately $14.6 million in cash for its stock. Block Graphics was owned by an employee stock ownership plan (ESOP) formed 10 years ago to acquire the company from original owner Bill Block.
While all locations will continue to produce products under the Block trade name, the company’s Denver real estate was spun off to the ESOP Trust prior to closing. Its Denver operation will relocate to Ennis’ Adams McClure facilities in the area.