Ennis, Inc. Announces Acquisition of Trade Envelopes
Wednesday, August 22, 2007
Press release from the issuing company
MIDLOTHIAN, Texas -- Aug. 20, 2007--Ennis, Inc. has entered into an agreement to acquire Trade Envelopes, Inc., a printer and manufacturer of envelopes headquartered in Carol Stream, IL. The acquisition is Ennis' direct response to distributor requests for an envelope supplier to service the Midwest and Southeastern United States. Trade Envelopes has sales of approximately $10 million per annum.
Established in 1972, Trade Envelopes is an envelope manufacturer (converter) and printer, offering high quality, 1-4 color process printing, lithography and flexography capabilities. With two full-service locations, one in Tullahoma, Tennessee and the other in Carol Stream, Illinois, Trade Envelopes serves resellers across the nation. They boast one of the largest, most diverse inventories at competitive prices. Additionally, Trade Envelopes has a long-standing reputation for high quality, excellent service and customer loyalty.
The acquisition of Trade Envelopes will provide the customer base Ennis needs to develop the wholesale envelope business in the area east of the Rockies. Ennis aggressively entered the envelope market with the 2006 acquisition of Block Graphics. The acquisition of Trade Envelopes expands and strengthens this product line for Ennis. "The distributor demand for envelopes is still a growing part of the market, and Ennis has actively been seeking an additional manufacturer to serve as a 'launch pad' for the Midwest and Southeast regions," said Terry Pennington, Vice President of Operations of Ennis, Inc. "We feel the capabilities and great reputation of Trade Envelopes combined with our current operations will help us meet the growing distributor demand for envelopes throughout the United States."