Ennis Acquires SPF, Ray Announces Retirement
Ennis, Midlothian, Texas, acquired 100 percent of the stock of Specialized Printed Forms (SPF), a privately held company headquartered in Caledonia, N.Y.
The acquisition involves the purchase of all of SPF's outstanding stock from Robert McAleavey, president and CEO of SPF, as well as the associated land and buildings from a partnership that leases the facility to SPF. The acquisition will provide additional short-run print products, long-run (jumbo rolls) products and solutions, as well as integrated labels and form/label combinations sold through the indirect sales (distributorship) marketplace.
The transaction is expected to be accretive to Ennis' earnings in the first full year of operations,
excluding the impact of transaction-related charges. SPF had sales of $9.5 million for the past year ended July 31, 2005. McAleavey will stay on as the general manager of SPF.
In other company news, Charles Ray recently announced his retirement from the position of general manager, effective March or April 2006. Brian Thorp has assumed the position with responsibilities to the Star Award Ribbon, and Ennis' custom and imprint facilities. He
will also continue to oversee the Royal Business Form operation in Arlington, Texas.
For more information, visit www.ennis.com.