Ennis Closes on Folder Express Acquisition
Ennis Inc., Midlothian, Texas, has closed on the agreement to acquire the assets of Folder Express from Wright Printing Company of Omaha, Neb. The business produces folders and specialty folders for music stores and public schools. The closing occurred Sept. 30, 2013 involving the purchase of assets and assumption of certain liabilities. Ennis will continue to stay in the current location in Omaha, Nebraska occupying the facility under a lease.
The business generated approximately $20 million a year in sales during the most recent calendar year and will continue to operate under the Folder Express and other brand names.
"We are very pleased to have closed this transaction. Expanding our folder operations makes us one of the largest producers of this product in the market and gives us another state in which we operate in,” said Keith Walters, chairman, CEO and president of Ennis Inc. “These products are sold through our normal sales channel of independent distributors. Overall, we feel very excited to bring the Folder Express line to our distributor channel."
The Folder Express deal was the second closing for the Texas-based company in a week. Ennis finalized its acquisition of the Custom Envelope Group, formerly part of Cenveo Corporation, on Sept. 27.
For more information, visit www.ennis.com.
Related story: Ennis Signs Agreement to Acquire Folder Express