Sep 23, 2013. /Lesprom Network/. Cenveo, Inc. has executed a letter of intent to sell its Custom Envelope Division (“CED”) to Ennis, Inc. for approximately $47.25 million in cash and the assumption of certain trade liabilities. 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 definitive purchase agreement between the two parties, as the company said in the press release received by Lesprom Network.

Cenveo’s CED is comprised of the WISCO envelope brand, which is produced at a facility in Tullahoma, TN., and the National Imprint Corporation brand, which is produced at a facility in Claysburg, PA., which collectively generated approximately $40 million in sales in the previous fiscal year.

Robert G. Burton, Sr., Chairman and CEO stated: “Cenveo’s Custom Envelope Division has built an outstanding reputation on producing custom short run envelopes for the distributor channel. This divestiture allows Cenveo to focus on our direct and office product envelope businesses, our integration of National Envelope and our other core operations, including the label and packaging businesses. As we have mentioned previously, we continue to evaluate our strategic options for all our operations with a focus on enhancing shareholder value.”

Cenveo, 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.

Ennis, Inc. 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.