Ennis Signs Letter of Intent to Acquire the Custom Envelope Division from Cenveo

  Ennis Signs Letter of Intent to Acquire the Custom Envelope Division from
  Cenveo

Business Wire

MIDLOTHIAN, Texas -- September 17, 2013

Ennis, Inc. (the “Company"), (NYSE: EBF), today announced that it has executed
a letter of intent to acquire the assets of the Custom Envelope Division, part
of the Custom Resale Group, from Cenveo, Inc. (NYSE: CVO). 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
definite purchase agreement between the two parties. The Custom Envelope
Division (“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 in a leased facility in Claysburg, PA. WISCO produces
and folds various types of envelopes, and NIC is an imprinter of envelopes.
Both of these products are sold through print distributors.

The Company expects to pay approximately $47.25 million in cash for the assets
of the CED and assume certain trade liabilities. CED generated approximately
$40 million in sales in the previous fiscal year.

Keith Walters, Chairman, Chief Executive Officer and President of Ennis, Inc.,
commented by stating, “We are very pleased to add these two brands and
locations to the Ennis family. It is very important to expand our envelope
capabilities and production on the east coast to complement our products and
capabilities in the middle of the country and the West coast. These products
are sold through our normal sales channel of independent distributors, so
these two businesses complement our current business model. Overall we feel
very excited to bring the WISCO and NIC brands to our distributor channel.”

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.

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.

Safe Harbor under The Private Securities Litigation Reform Act of 1995

Certain statements contained in this press release that are not historical
facts are forward-looking statements that involve a number of known and
unknown risks, uncertainties and other factors that could cause the actual
results, performance or achievements of the Company to be materially different
from any future results, performance or achievement expressed or implied by
such forward-looking statements. The words “anticipate,” “preliminary,”
“expect,” “believe,” “intend” and similar expressions identify forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for such forward-looking statements. In order to comply with the
terms of the safe harbor, the Company notes that a variety of factors could
cause actual results and experience to differ materially from the anticipated
results or other expectations expressed in such forward-looking statements.
These statements are subject to numerous uncertainties, which include, but are
not limited to, the Company’s ability to effectively manage its business
functions while growing its business in a rapidly changing environment, the
Company’s ability to adapt and expand its services in such an environment, the
variability in the prices of paper and other raw materials. Other important
information regarding factors that may affect the Company’s future performance
is included in the public reports that the Company files with the Securities
and Exchange Commission, including but not limited to, its Annual Report on
Form 10-K for the fiscal year ending February 28, 2013. The Company does not
undertake, and hereby disclaims, any duty or obligation to update or otherwise
revise any forward-looking statements to reflect events or circumstances
occurring after the date of this release, or to reflect the occurrence of
unanticipated events, although its situation and circumstances may change in
the future. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The
inclusion of any statement in this release does not constitute an admission by
the Company or any other person that the events or circumstances described in
such statement are material.

Contact:

Ennis, Inc.
Mr. Keith S. Walters, 972-775-9801
Chairman, Chief Executive Officer and President
or
Mr. Richard L. Travis, Jr., 972-775-9801
CFO, Treasurer and Principal Financial and Accounting Officer
or
Mr. Michael D. Magill, 972-775-9801
Executive Vice President and Secretary
Fax: 972-775-9820
www.ennis.com
 
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