Cenveo to Sell Forms and Business Documents Group to Ennis
Jan. 30, 2012 - Cenveo, Inc. today announced that it has agreed to sell its Forms and Business Documents Group ("Documents Group") to Ennis, Inc., a manufacturer of printed business products and apparel headquartered in Midlothian, Texas.
Terms of the deal were not disclosed.
The divestiture of the Documents Group, including the Printegra and PrintXcel brands, to Ennis is expected to better position the business for continued growth and success, Cenveo said.
The sale is expected to close during February 2012.
"Cenveo's Documents Group has built its leading position and strong reputation on producing business forms and document products to meet a variety of business customer needs," said Robert G. Burton, Sr., Chairman and Chief Executive Officer. "This divestiture allows Cenveo to focus on our core operations including labels, specialty packaging, envelopes, print and content management.
"We remain committed to executing our game plan of operating niche growth businesses while using our cash flow to invest in and grow our higher margin product groups and de-leveraging our balance sheet to achieve our stated leverage targets by the end of next year," he said.
SOURCE: Cenveo, Inc.