STAMFORD, Conn., Aug. 30 -- Cenveo, Inc. (NYSE:CVO) announced today that it has completed its previously-announced purchase of Commercial Envelope Manufacturing Co., Inc. ("Commercial Envelope") of Deer Park, NY, one of the largest envelope manufacturers in the United States.
Robert G. Burton, Chairman and Chief Executive Officer of Cenveo, stated:
"We are pleased to have completed this acquisition, and I look forward to working with the Kristel family and the entire Commercial Envelope team as we begin our integration efforts. We are excited to begin the process of combining these two industry leaders to form the leading envelope manufacturer in the United States. This combination will create the most efficient and diversified asset platform in the industry, which will enable us to service even more of our customers' needs.
The fact that we were able to successfully close this transaction and its related financing during this period of market turbulence speaks very highly of our team's track record and the confidence our lenders have in us. This acquisition furthers the momentum that we are seeing in the marketplace. We continue to see a strong environment for our products, which has resulted in continued strengthening across all our business units. We are also pleased with the strong cash flow that the business is generating and we remain optimistic about the significant amount of cash this company can generate going forward.
We intend to spend the rest of the year focusing on integrating our recent acquisitions and delivering our financial commitments, which we expect will drive significant cash flow from our operations that can be used to de-leverage our balance sheet and invest in our core business and selected growth opportunities."
Cenveo (NYSE:CVO), headquartered in Stamford, Connecticut, is a leader in the management and distribution of print and related products and services. The Company provides its customers with low-cost solutions within its core business of commercial printing and packaging, envelope, form, and label manufacturing, and publisher services; offering one-stop services from design through fulfillment. With over 10,000 employees worldwide, Cenveo delivers everyday for its customers through a network of production, fulfillment, content management, and distribution facilities across the globe. For more information please visit us at http://www.cenveo.com/.
Inquiries from analysts and investors should be directed to Robert G. Burton, Jr. at (203) 595-3005.
Source: Cenveo, Inc.
CONTACT: Robert G. Burton, Jr. of Cenveo, Inc., +1-203-595-3005
Web site: http://www.cenveo.com/