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Slide #39. Ennis — Cenveo, Inc. Custom Envelope Divisio
Cenveo, Inc. Custom Envelope Divisio
Cenveo, Inc. (NYSE: CVO) today announced that it has executed a letter of intent to sell its Custom Envelope Division ("CED") to Ennis, Inc. (NYSE: EBF), a manufacturer of printed business products & apparel, headquartered in Midlothian, Texas, for approximately $47.25 million in cash and the assumption of certain trade liabilities. The closing, which is expected to be on or before September 27, 2013, is subject to the completion of normal due diligence procedures and the consummation of a definitive purchase agreement between the two parties.
Ennis and its subsidiaries print and manufacture business forms and other business products. Co. distributes business products and forms throughout the U.S. through independent dealers. This distributor channel encompasses independent print distributors, commercial printers, direct mail, fulfillment companies, payroll and accounts payable software companies, and advertising agencies, among others. The products Co. sells include snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls and pressure sensitive products in short, medium and long runs under the following labels: Ennis®, Royal Business Forms®, and Block Graphics®, among others.
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