National Envelope Inks Asset Purchase Agreement with Cenveo
Aug. 22, 2013 - National Envelope yesterday announced it has entered into a definitive Asset Purchase Agreement (APA) with Cenveo to sell substantially all of National's operating assets. The closing is subject to bankruptcy court approval and customary closing conditions and is expected to occur by the end of the third quarter.
"We're very happy with the outcome of the Chapter 11 proceedings," said Jim Pinto, CEO of National Envelope. "All parties involved worked diligently to see that the company was sold through the bankruptcy process and received the best possible outcome. This sale ensures the best result for all interested stakeholders, including debt holders, owners, creditors, customers and employees."
National Envelope filed Chapter 11 on June 10 in order to facilitate a sale and has requested the US Bankruptcy Court for the District of Delaware authorize the Company to proceed with a sale of the assets of the business on September 13, 2013.
National is being guided by PricewaterhouseCoopers, LLP as its financial advisors and Richards, Layton and Finger as legal counsel.
SOURCE: National Envelope