Ennis Acquires Hoosier Data Forms
Financial Terms Of Deal Not Released
Top 40 supplier Ennis Inc. (asi/52493) announced yesterday that it has acquired print company Hoosier Data Forms, which is based in Indianapolis, IN. Financial terms of the deal were not released, but as part of the transaction, John Cornelius, previous owner of Hoosier, will remain with the company in a sales and management capacity.
“We are pleased to add John Cornelius, Hoosier Data Forms and their loyal customers to the Ennis family,” said Keith Walters, chairman, president and CEO of Ennis. “Hoosier Data Forms has been serving the region for almost 40 years and the Cornelius family’s historic printing roots go back more than 100 years serving Midwest distributors.”
Ennis said it will now consolidate Hoosier and its Printegra Indianapolis operation into one facility. The transition to the single facility will take place over the next six months, but following the consolidation, both companies and their employees will continue to operate under their respective brand names.
Separately, Ennis recently announced its financial results for the three months ended August 31. In the company’s fiscal second quarter, net sales increased by 12.2% over the same time period last year, reaching $151.8 million. Its print division grew sales by 24% while the company’s apparel sales (which include numbers from its Alstyle Apparel (asi/34817) division) dropped by 4.1%. Ennis said its apparel sales on a volume basis actually increased by 1% for the quarter, but suffered the overall drop due to a 5.1% decline in the average selling price.
“Overall we are pleased with the results for the second quarter,” Walters said. “Our print margins improved as we continue to make operational improvements at our recent acquisitions. Our apparel margins and operating results continue to be impacted by a challenging domestic retail environment [in which] discounting continues to be prevalent in the marketplace.”
Ennis ranks as the fifth-largest supplier in the industry, after reporting 2013 North American ad specialty revenues of $239 million, a 1.6% increase over 2012.