Ennis Acquires Assets Of Competitor Gulf Business Forms For Undisclosed Sum - Ennis (NYSE:EBF)

Ennis, Inc. EBF has acquired certain assets, including customer lists and intellectual property of Gulf Business Forms, in San Marcos, Texas. Financial terms were not disclosed.
Gulf Business Forms is a trade printer specializing in custom-printed documents. After completion, Gulf Business Forms customer files and phones, and emails will be relocated to the Ennis, Texas plant.
Keith Walters, Chairman, President & CEO, stated, “Gulf has been a strong competitor and leading brand throughout the country with customers spanning from California in the southwest to Massachusetts in the northeast.”
Gulf Business Forms has been serving distributors from its operations in Texas for more than 50 years.
Ennis held cash and equivalents of $91.2 million as of May 31, 2022.
Price Action: EBF shares are trading lower by 1.64% at $22.14 on the last check Wednesday.