Ennis Acquires Two Print Firms
January 31, 2012
Counselor Top 40 supplier Ennis
Inc. (asi/52493) has signed an agreement to acquire certain assets
of PrintXcel and Printegra,
properties that were previously owned by Cenveo.
While financial terms of the deal weren't disclosed, the two companies have
combined annual revenues of about $80 million. Ennis said that the acquisition
will expand its high-color commercial print capabilities and business check
"This is a major addition to the Ennis family,"
said Keith Walters, president and CEO of
Ennis, as well as a member of the Counselor Power 50. "This acquisition
expands our check capabilities and capacity while adding new customers. Like
Ennis, PrintXcel and Printegra
have been serving the distributor market for more than 80 years, and we feel
this addition will positively impact customers of both companies."
Following closure of the deal, which is expected to occur in
February, PrintXcel and Printegra
will continue to operate under their respective trade names. Also, Ennis has
said that "substantially all" of the employees for both organizations
will be offered new positions within the new Ennis operation. The PrintXcel facilities are located in Visalia,
TN and Fairhope,
AL. The Printegra
facilities are located in Livermore, CA;
Smyrna, GA; Indianapolis,
NY; and Greensboro,
NC, with a sales office in Jaffrey,
NH. "Ennis is pleased to add new
locations and new products to our growing number of brands," Walters said.
In the ad specialty market, Ennis is the fifth-largest
supplier. The company reports annual North American ad specialty sales of more
than $280 million.