Ennis Acquires Assets Of Block Graphics
Ennis, Midlothian, Texas has entered into a Letter of Intent to acquire substantially all of the assets of Block Graphics, Portland, Ore. Block Graphics is currently owned by an Employee Stock Ownership Program formed 10 years ago to acquire the stock from Bill Block, the original owner.
The acquisition, when completed, will include the use of the trade name Block Graphics. Ennis expects that many of Block Graphics’ employees will become part of the Ennis family and continue to provide the same service they have brought to the market for more than 25 years. The acquisition will add additional short-run print products and the production of envelopes to Ennis’ capabilities.
The transaction is expected to be accretive to Ennis’ earnings in the first full year of operations, excluding the impact of transaction related charges. Block Graphics had sales of $35 million for the past year ended Dec., 31, 2005.
For more information, visit www.ennis.com.