UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 3, 2014 (June 3, 2014)
Ennis, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Texas | 1-5807 | 75-0256410 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
2441 Presidential Pkwy. Midlothian, Texas | 76065 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants Telephone Number, Including Area Code: (972) 775-9801
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) |
Item 1.01 | Entering into a Material Definitive Agreement |
On June 3, 2014, Ennis, Inc. (the Company) announced that two of its subsidiary companies have executed a definitive agreement to acquire substantially all of the assets of Sovereign Business Forms, Inc. and five related entities: TRI-C Business Forms, Inc., Falcon Business Forms, Inc., Forms Manufacturers, Inc., Mutual Graphics, Inc., and Curtis Business Forms, Inc. (the Businesses). The Businesses generated approximately $27.1 million in sales for the 2013 calendar year and will continue to operate under their respective brand names. The closing, which is expected to be on or before June 16, 2014, is subject to the completion of customary due diligence and customary conditions to closing.
Item 8.01 | Other Events |
On June 3, 2014, the Company issued a press release announcing the execution of a definitive agreement to acquire the assets of Sovereign Business Forms, Inc. and its related entities, TRI-C Business Forms, Inc., Falcon Business Forms, Inc., Forms Manufacturers, Inc., Mutual Graphics, Inc., and Curtis Business Forms, Inc. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
Exhibit No. |
Description | |
99.1 | Ennis, Inc. press release dated June 3, 2014 announcing the execution of a definitive agreement to acquire the assets of Sovereign Business Forms, Inc. and its related entities, TRI-C Business Forms, Inc., Falcon Business Forms, Inc., Forms Manufacturers, Inc., Mutual Graphics, Inc., and Curtis Business Forms, Inc. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Ennis, Inc. | ||
By: | /s/ Richard L. Travis Jr. | |
Richard L. Travis, Jr. | ||
Chief Financial Officer |
Date: June 3, 2014
EXHIBIT INDEX
Exhibit No. |
Description | |
99.1 | Ennis, Inc. press release dated June 3, 2014 announcing the execution of a definitive agreement to acquire the assets of Sovereign Business Forms, Inc. and its related entities, TRI-C Business Forms, Inc., Falcon Business Forms, Inc., Forms Manufacturers, Inc., Mutual Graphics, Inc., and Curtis Business Forms, Inc. |
Exhibit 99.1
FOR IMMEDIATE RELEASE
ENNIS SIGNS ASSET PURCHASE AGREEMENT FOR
SOVEREIGN BUSINESS FORMS PLANTS
Midlothian, June 3, 2014 Ennis, Inc. (the Company), (NYSE: EBF), today announced that two of its subsidiary companies have entered into a definitive agreement to acquire substantially all of the assets of Sovereign Business Forms, Inc. and five related entities:
TRI-C Business Forms, Inc. in Houston, Texas
Falcon Business Forms, Inc. in Corsicana, Texas
Forms Manufacturers, Inc. in Girard, Kansas
Mutual Graphics, Inc. in Knoxville, Tennessee
Curtis Business Forms, Inc. in Holyoke, Massachusetts
The closing, which is expected to be on or before June 16, 2014, is subject to the completion of customary due diligence and customary conditions to closing. Sales from the businesses totaled approximately $27.1 million in calendar year 2013. The Company expects that the businesses will continue to operate under their existing trade names and remain in their existing locations. The Company 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, We are very pleased to add these five brands and locations to the Ennis family. These facilities produce traditional business forms and allow us to expand into the Houston market and the New England marketplace. The other three markets supplement our existing locations nearby. These products are sold through our customary sales channel of independent distributors, and should complement our current business model. With these acquisitions we are close to operating 50 print locations throughout the United States.
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 Companys 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.
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 Companys ability to effectively manage its business functions while growing its business in a rapidly changing environment, the Companys 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 Companys 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, 2014. 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.
For Further Information Contact:
Mr. Keith S. Walters, Chairman, Chief Executive Officer and President
Mr. Richard L. Travis, Jr., CFO, Treasurer and Principal Financial and Accounting Officer
Mr. Michael D. Magill, Executive Vice President and Secretary
Ennis, Inc.
2441 Presidential Parkway
Midlothian, Texas 76065
Phone: (972) 775-9801
Fax: (972) 775-9820
www.ennis.com