Ennis Acquires Assets Of Integrated Print & Graphics
Ennis, Inc., parent company of several industry suppliers, including Folder Express (PPAI 354129), Independent Folders (PPAI 111993) and Admore, Inc. (PPAI 111144), has announced that one of its wholly owned subsidiaries has acquired the assets of Integrated Print & Graphics (“IPG”) in South Elgin, Illinois. The Ennis subsidiary will operate under the IPG brand and name.
IPG has been in the Chicago marketplace since the 1970s and does about $20 million in sales annually. As an Ennis subsidiary, it will lease the current facility from the current owner for several years with options to renew. The current owner, Gary Mozina, will not continue with the company but the rest of the employees will stay on with the newly acquired IPG and produce the same products with the same quality and attention to customer service as before. Ennis believes that the acquisition will be accretive to earnings in the current year.
“We are very pleased to add IPG to the Ennis family,” says Keith Walters, chairman, president and CEO of Ennis, Inc. “IPG provides some additional capabilities to our product line and its focus on high-color commercial print to the direct mail channel is consistent with our desire to expand this product line throughout the Ennis business model. These products are sold through our normal sales channel of independent distributors, so this business complements our current business model. We think this will enhance our current product mix and allow us to pursue more expansive product lines in the integrated product market.”