Article: Workflow Management, Inc. Completes Acquisition of Penn-Grover Envelope Corp. - Expands Leadership in Envelope Printing in New York Metropolitan Region -.

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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