Ennis, Inc. (the “Company”), (NYSE: EBF), Monday announced that one of its wholly owned subsidiaries has closed on an agreement to acquire the assets of Major Business Systems in Hillsborough, North Carolina. The Ennis subsidiary, operating under the Major Business Systems brand and name, will lease the current facility from the current owner for several years with options to renew. The current owner, Jeff Russell, will continue working with Major Business Systems. The employees will continue their employment with the newly acquired Major Business Systems 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.
Keith Walters, Chairman, Chief Executive Officer and President of Ennis, Inc., commented by stating, “We are very pleased to add Major Business Systems (“Major”) to the Ennis family. Major provides some additional capabilities to our product line and their focus on value add products in the health care industry is consistent with our desire to expand this product line throughout the Ennis network. 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 document market.”