Consumer Non-Cyclical Sector Review: Ennis Acquires Certain Cenveo Assets, Pepsi Looks to Catch Up with Coke
Ennis, Inc. (NYSE:EBF) has agreed to acquire certain assets of Cenveo’s document business including the manufacturing facilities branded under the names PrintXcel and Printegra. Sales from both businesses are approximately $80M annually. Trade liabilities were assumed in the transactions and the transaction is expected to close during February. The operations will continue to operate under their respective trade names of PrintXcel and Printegra. Ennis will continue to manufacture and market the pressure seal product line under the VersaSeal brand name.
The shares closed at $16.16, up $0.46, or 2.93%, on the day. Its market capitalization is $421.07 million.
PepsiCo, Inc. (NYSE:PEP), seeking to gain back share lost to rival Coca-Cola (NYSE:KO), may announce plans to increase its marketing investment by $400M-$500M when it unveils its business outlook for 2012 and beyond, according to analysts, reported Advertising Age.
The shares closed at $65.41, down $0.4, or 0.61%, on the day. Its market capitalization is $102.26 billion.
The shares closed at $67.46, up $0.02, or 0.03%, on the day. Its market capitalization is $153.22 billion.
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