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Cenveo Reaches Agreement to Sell its Custom Envelope Division to Ennis

    Cenveo Reaches Agreement to Sell its Custom Envelope Division to Ennis

PR Newswire

STAMFORD, Conn., Sept. 17, 2013

STAMFORD, Conn., Sept. 17, 2013 /PRNewswire/ -- Cenveo, Inc. (NYSE: CVO) today
announced that it has executed a letter of intent to sell its Custom Envelope
Division ("CED") to Ennis, Inc. (NYSE: EBF), a manufacturer of printed
business products & apparel, headquartered in Midlothian, Texas, for
approximately $47.25 million in cash and the assumption of certain trade
liabilities. The closing, which is expected to be on or before September 27,
2013, is subject to the completion of normal due diligence procedures and the
consummation of a definitive purchase agreement between the two parties.

(Logo: http://photos.prnewswire.com/prnh/20070618/CENVEOLOGO)

Cenveo's CED is comprised of the WISCO envelope brand, which is produced at a
facility in Tullahoma, TN., and the National Imprint Corporation ("NIC")
brand, which is produced at a facility in Claysburg, PA., which collectively
generated approximately $40 million in sales in the previous fiscal year.

Robert G. Burton, Sr., Chairman and Chief Executive Officer stated:
"Cenveo's Custom Envelope Division has built an outstanding reputation on
producing custom short run envelopes for the distributor channel. This
divestiture allows Cenveo to focus on our direct and office product envelope
businesses, our integration of National Envelope and our other core
operations, including the label and packaging businesses. As we have mentioned
previously, we continue to evaluate our strategic options for all our
operations with a focus on enhancing shareholder value."

About Cenveo
Cenveo (NYSE: CVO), headquartered in Stamford, Connecticut, is a leading
global provider of print and related resources, offering world-class solutions
in the areas of custom labels, specialty packaging, envelopes, commercial
print, content management and publisher solutions. The company provides a
one-stop offering through services ranging from design and content management
to fulfillment and distribution. With a worldwide distribution platform, we
pride ourselves on delivering quality solutions and service every day for our
more than 100,000 customers. For more information please visit us at
www.cenveo.com.

About Ennis
Ennis, Inc. (www.ennis.com) is primarily engaged in the production and sale of
business forms, apparel and other business products. The Company is one of the
largest private-label printed business product suppliers in the United States.
Headquartered in Midlothian, Texas, the Company has production and
distribution facilities strategically located throughout the United States of
America, Mexico and Canada, to serve the Company's national network of
distributors. The Company, together with its subsidiaries, operates in two
business segments: print and apparel. The print segment manufactures and sells
business forms, other printed business products, printed and electronic media,
presentation products, flex-o-graphic printing, advertising specialties and
Post-it® Notes, internal bank forms, plastic cards, secure and negotiable
documents, envelopes and other custom products. The apparel segment
manufactures T-Shirts and distributes T-Shirts and other active-wear apparel
through nine distribution centers located throughout North America.

Statements made in this release, other than those concerning historical
financial information, may be considered "forward-looking statements," which
are based upon current expectations and involve a number of assumptions, risks
and uncertainties that could cause actual results to differ materially from
such forward-looking statements. In view of such uncertainties, investors
should not place undue reliance on our forward-looking statements. Such
statements speak only as of the date of this release, and we undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Factors
that could cause actual results to differ materially from management's
expectations include, without limitation: (i) recent United States and global
economic conditions, which have adversely affected us and could continue to do
so; (ii) our substantial level of indebtedness, which could impair our
financial condition and prevent us from fulfilling our business obligations;
(iii) our ability to service or refinance our debt; (iv) the terms of our
indebtedness imposing significant restrictions on our operating and financial
flexibility; (v) additional borrowings are available to us that could further
exacerbate our risk exposure from debt; (vi) our ability to successfully
integrate acquired businesses into our business; (vii) a decline of our
consolidated profitability or profitability within one of our individual
reporting units could result in the impairment of our assets; (viii) intense
competition and fragmentation in our industry; (ix) the general absence of
long-term customer agreements in our industry, subjecting our business to
quarterly and cyclical fluctuations; (x) factors affecting the United States
postal services impacting demand for our products; (xi) the availability of
the Internet and other electronic media affecting demand for our products;
(xii) increases in raw material costs and decreases in their availability;
(xiii) our labor relations; (xiv) our compliance with environmental rules and
regulations; (xv) our dependence on key management personnel; (xvi) our
dependence upon information technology systems; and (xvii) our international
operations and the risks associated with operating outside of the United
States. This list of factors is not exhaustive, and new factors may emerge or
changes to the foregoing factors may occur that would impact our business.
Additional information regarding these and other factors can be found in
Cenveo, Inc.'s periodic filings with the SEC, which are available at
http://www.cenveo.com.

Inquiries from analysts and investors should be directed to Robert G. Burton,
Jr. at (203) 595-3005.

SOURCE Cenveo, Inc.

Website: http://www.cenveo.com
Website: http://www.ennis.com
 
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