Ennis To Acquire The Flesh Company And Subsidiary Impressions Direct
Midlothian, Texas-based Ennis, Inc. has signed a share purchase agreement to acquire all the outstanding stock of The Flesh Company and its wholly-owned subsidiary, Impressions Direct, Inc., effective July 15. The Flesh Company is a printing company with its corporate office and direct mail operations in St. Louis, Missouri, and a manufacturing facility and warehouse in Parsons, Kansas. Ennis, Inc. is the parent company of several industry suppliers, including Folder Express (PPAI 354129), Independent Folders (PPAI 111993) and Admore, Inc. (PPAI 111144).
Ennis is buying the stock for cash, and the price is subject to certain working capital and escrow adjustments. Additional consideration in the form of an earn-out is also being established. Flesh had approximately $31.1 million in sales for the 12 months ending September 30, 2018, and sells mainly to distributors and resellers.
Keith Walters, chairman, president and CEO of Ennis, says, “We are delighted to have the opportunity to combine the Flesh organization with the other operations of Ennis. The Flesh Company is truly regarded as one of the outstanding companies in the print industry with a heritage that dates back more than 100 years. They provide business forms, checks, direct mail services, integrated products and labels. The addition of direct mail will continue to add to the capabilities we added with the recent acquisitions of Wright Business Graphics on the West Coast and Integrated Print Graphics in Chicago, as well as expanding our integrated products and label capabilities.”
The company will continue to operate as The Flesh Company and related brand names. All facilities will continue their normal operations in their current locations.