Monday, January 4, 2021 1:30 pm
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Midlothian, TX (News release) -- Ennis, Inc. announced that one of its wholly owned subsidiaries has entered into a Letter of Intent to acquire the assets and assume some liabilities of Infoseal LLC in Roanoke, Virginia.
Infoseal provides pressure seal and tax forms products to independent print brokers and resellers. The Ennis subsidiary, operating under the Infoseal brand and name, will continue to operate in the current facility with a multi-year lease. Infoseal employees and local management are expected to continue working with the newly acquired Infoseal with no disruption in service.
Ennis believes that the acquisition will be accretive to earnings in the current year and expects the transaction to be effective at the close of business on December 31, 2020.
Keith Walters, Chairman, Chief Executive Officer and President of Ennis, Inc., commented by stating, "We are very pleased to add Infoseal to the Ennis family. Infoseal is a leader in the production of pressure seal documents and this well-known brand brings added capabilities and expertise to our expanding product offering including our existing VersaSeal pressure seal product line. Infoseal products are sold through our traditional sales channel of independent distributors and this business continues our strategy to support our loyal distributors with an industry leading product offering."
Infoseal provides pressure seal and tax forms products to independent print brokers and resellers. The Ennis subsidiary, operating under the Infoseal brand and name, will continue to operate in the current facility with a multi-year lease. Infoseal employees and local management are expected to continue working with the newly acquired Infoseal with no disruption in service.
Ennis believes that the acquisition will be accretive to earnings in the current year and expects the transaction to be effective at the close of business on December 31, 2020.
Keith Walters, Chairman, Chief Executive Officer and President of Ennis, Inc., commented by stating, "We are very pleased to add Infoseal to the Ennis family. Infoseal is a leader in the production of pressure seal documents and this well-known brand brings added capabilities and expertise to our expanding product offering including our existing VersaSeal pressure seal product line. Infoseal products are sold through our traditional sales channel of independent distributors and this business continues our strategy to support our loyal distributors with an industry leading product offering."