Cenveo to Acquire Rex Corporation, Expanding Position in Specialty Packaging Market
Robert G. Burton, Sr., chairman and CEO of Stamford, Connecticut-based Cenveo, announced the company has signed a definitive agreement to acquire Rex Corporation (Rex), in an all-cash transaction. Rex is one of the largest independent manufacturers of premium and high-quality packaging solutions with more than 35 years of industry experience, and generates annual revenues in excess of $40 million. The transaction is expected to be completed in the first quarter of 2008, and to be accretive to earnings in 2008.
Rex, Jacksonville, Fla., is recognized for its outstanding quality, craftsmanship and high levels of customer service. Many of the world’s premier consumer products manufacturers—particularly those in the pharmaceutical, healthcare, cosmetics, personal care, food and beverage and apparel markets—depend on Rex for its single-source packaging solutions, with design, production and distribution all handled from one location.
In other news, Cenveo announced that Gerald S. Armstrong has been appointed to the company’s board of directors effective December 31st. He is presently an executive vice president of EarthWater Global, LLC, an exploration company, as well as managing director of Arena Capital Partners, LLC, a private investment firm.
The company also reported Robert Kittel has stepped down as a director of the company due to increasing demands on his time and the expanded role he has assumed at Goodwood, Inc.
For more information, visit www.cenveo.com.