Cenveo Completes Acquisition of MWV's Envelope Business
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Cenveo Inc., Stamford, Conn., USA, this week completed its acquisition of the Envelope Products Group of MeadWestvaco. The Envelope Products Group manufactures and distributes envelope products for the billing, financial, and direct mail markets and has approximately 900 employees. The combined companies will form the largest, most innovative envelope company in the world.
"Today marks an important milestone in achieving our goal of significantly enhancing and solidifying our industry leading envelope platform," Robert G. Burton Sr., chairman and CEO of Cenveo, said. "This acquisition brings together two industry leaders, both of which have much to offer one another and creates a platform that will truly be the envy of the industry. We are impressed by the degree of synergy that is available and are working to ensure that we combine the best of both organizations. I want to personally welcome the employees of the Envelope Products Group to the Cenveo family. The acquisition is expected to be accretive to earnings in 2011 and will be deleveraging to our balance sheet."
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