LSC Communications Completes Acquisition of CREEL

Worzalla, an employee-owned book printer specializing in printing high-quality children’s books, cookbooks, and hard-cover best sellers, recently concluded the holiday season with multiple charitable endeavors. As a business with more than 125 years of history in Portage County, Worzalla consistently looks for opportunities to give back to the community. “This past holiday season, Worzalla associates stepped up in a big way to help those in need, and we were happy to see the greater community support our efforts as well,” said Brianne Petruzalek, Vice President of Human Resources at Worzalla. “We thank everyone involved for helping us to make a positive impact in our community.” In December, Worzalla set up a Community Giving Tree and set up a raffle prize giveaway to encourage the community to contribute donations for the Salvation Army. The drive was successful in collecting hundreds of food items, clothing, household items, and other in-demand items for those in need in Portage County.

Ennis, Inc. announced its acquisition of School Photo Marketing in Morganville, New Jersey. School Photo Marketing provides printing, yearbook publishing and marketing-related services to over 1,400 school and sports photographers servicing schools around the country. Keith Walters, Chairman, President & CEO of the Company, stated, “We are delighted to have the opportunity to bring School Photo Marketing, their employees, and their customers into the Ennis family. This addition brings with it many exciting possibilities to service this new channel with products produced through Ennis manufacturing operations.” School Photo Marketing operates through a similar wholesale manufacturer-distributor-end user channel as Ennis currently operates.

Recent Highlights *Increased Net Sales 1% (3% excluding divestitures) in 2021, driven by higher print volumes, including print segment share gains from new clients, growth in Agency Solutions Net Sales, and increased pricing in response to inflationary cost pressures. *Delivered $38 million of Net Earnings From Continuing Operations in 2021 and Adjusted Diluted Earnings Per Share From Continuing Operations of $0.60 per share in 2021 compared to $0.29 per share in 2020. *Generated $137 million of Net Cash From Operating Activities and Free Cash Flow of $87 million in 2021. *Divested non-core assets, generating $166 million of cash proceeds in 2021. *Reduced Net Debt by $410 million or 40% over the past two years, reaching Debt Leverage of 2.5x.