Ennis, Inc. (EBF: Quote) said Monday that it has agreed to buy certain assets of Cenveo's document business including the manufacturing facilities branded under the names PrintXcel and Printegra.
Sales from both businesses are about $80 million annually. The PrintXcel facilities are located in Visalia, California; Toledo, Ohio; Clarkesville, Tennessee and Fairhope, Alabama. The Printegra facilities are located in Livermore, California; Arlington, Texas; Smyrna, Georgia; Indianapolis, Indiana; Fairport, New York; and Greensboro, North Carolina, with a sales office in Jaffrey, NH.
Trade liabilities were assumed in the deal, which is expected to close during February.
The operations will continue to operate under their respective trade names of PrintXcel and Printegra, Ennis said and added that it will continue to manufacture and market the pressure seal product line under the VersaSeal brand name. Substantially all of PrintXcel's and Printegra's employees will be offered positions with Ennis' new operation.
Ennis expects the acquisition to be accretive to its earnings in the first full year of operations.
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by RTT Staff Writer
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