Ennis Acquires Atlas Tag & Label
October 5, 2010
Counselor Top 40 supplier Ennis Inc. (asi/52493) has acquired selected assets of Wisconsin-based Atlas Tag & Label Inc., the companies have announced. Financial terms of the deal, which closed on September 30, were not released, although Ennis has said it did not assume significant liabilities in the transaction. “This acquisition expands our tag and label capabilities and capacity while adding new customers,” said Keith Walters, president and CEO of Ennis. “Like Ennis, Atlas has been serving the distributor market for more than 80 years, and we feel this addition will positively impact customers of both companies.”
Per the deal, the majority of employees at Atlas Tag & Label have been offered positions with the new operation. Company contact information will stay the same and Atlas will continue operating in its current facility with no major changes to day-to-day service or scheduling. The company was founded in 1930 and has been in Neenah, WI, since 1987.
Ennis, which sells both print materials and apparel products, recently reported a revenue increase of 5.7% for the six months that ended August 31. Apparel sales were especially strong, rising by 19.4% to reach $146.8 million in the first half of 2010. Ennis ranks as the third-largest supplier in the industry with 2009 North American ad specialty sales of $309 million.