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Article: Workflow Management, Inc. Completes Acquisition of Penn-Grover Envelope Corp. - Expands Leadership in Envelope Printing in New York Metropolitan Region -.
- Article from:
- PR Newswire
- Article date:
- October 5, 1998
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Copyright informationCOPYRIGHT 1998 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PALM BEACH, Fla., October 5 /PRNewswire/ -- Workflow Management, Inc. (Nasdaq: WORK) today announced that it has acquired Penn-Grover Envelope Corp. for approximately $11.1 million. Located in Long Island City, New York, Penn-Grover prints envelopes and other direct mail components.The acquisition is projected to contribute annualized revenues to Workflow Management of approximately $14.6 million, annualized EBITDA of approximately $1.9 million and annualized earnings per share of approximately $0.03.
Tom D'Agostino, Workflow's President and Chief Executive Officer, commented, "Today's announcement reflects our commitment to expanding and strengthening ...
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