Ennis, Inc. to Acquire Trade Envelopes, Inc.
Midlothian, Texas, USA, 20 August 2007 -- Ennis, Inc. (NYSE: EBF) has entered into an agreement to acquire Trade Envelopes, Inc., a printer and manufacturer of envelopes headquartered in Carol Stream, Illinois. The acquisition is Ennis’ direct response to distributor requests for an envelope supplier to service the Midwest and Southeast United States. Trade Envelopes has sales of approximately USD 10 million per annum.
Established in 1972, Trade Envelopes is an envelope manufacturer (converter) and printer, offering high quality, 1-4 color process printing, lithography, and flexography capabilities. With two full-service locations, one in Tullahoma, Tennessee, and the other in Carol Stream, Illinois, Trade Envelopes serves resellers across the nation. They boast one of the largest, most diverse inventories and extremely competitive prices.
The acquisition of Trade Envelopes will provide the capital and customer base Ennis needs to grow and develop the wholesale envelope business in the area east of the Rockies. Ennis aggressively entered the envelope market with the 2006 acquisition of Block Graphics. The acquisition of Trade Envelopes expands and strengthens this product line for Ennis.
"The distributor demand for envelopes is still a growing part of the market, and Ennis has actively been seeking an additional manufacturer to serve as a 'launch pad' for the Midwest and Southeast regions," said Terry Pennington, vice president of Operations of Ennis, Inc. "We feel the capabilities and great reputation of Trade Envelopes combined with our current operations will help us meet the growing distributor demand for envelopes throughout the United States."
Ennis, Inc. (www.ennis.com) 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, Texas, 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. Ennis, 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 and other printed business products, printed and electronic media, presentation products, flex-o-graphic printing, advertising specialties, Post-it® Notes, internal bank forms, secure and negotiable documents, custom products, and envelopes. The Apparel Segment manufactures T-Shirts and distributes T-Shirts and other active-wear apparel through six distribution centers located throughout North America.