Ennis Reports New Acquisition, Declares Quarterly Dividend
Ennis Reports New Acquisition, Declares Quarterly Dividend
Headquartered in Midlothian, Texas, Ennis has entered into an agreement to acquire Tennessee Business Forms/Avant-Garde (TBF) a privately held company based in Tullahoma, Tenn. TBF's 2004 sales totaled $2.2 million. Robert Boldig, president and CEO, will stay on as general manager of
TBF, assisting the company in developing its other product lines.
The acquisition involves the purchase of TBF's outstanding stock, as well as the associated land and buildings. It continues Ennis' strategy of growth through acquiring complimentery manufactured products, and brings additional short-run print products and solutions, integrated
labels, and form/label combinations.
Although a smaller acquisition than usual for Ennis, Keith Walters, chairman, president and CEO, acknowledged that it was attractive due to location, product mix and reputation.
In other news, Ennis recently announced that its Board of Directors has declared a quarterly cash dividend of 15-1/2 cents a share on its common stock. The dividend is payable on Feb. 1 to shareholders of record on Jan. 16.
For more information, visit www.ennis.com.