Thursday, December 9, 2021

Tri-State Envelope in Ashland Acquired by Moore

This week, Moore, a leading constituent experience management (CXM) company, announced the acquisition of Tri-State Envelope, an industry leader specializing in custom envelope manufacturing based in Ashland.

With this latest asset purchase, Tri-State Envelope, with 324 employees, is the fourth envelope manufacturing company Moore has added to its portfolio, along with St. Louis Print Group, Worcester Envelope Company and its $31 million investment in Richmond Print Group.

Tri-State in Ashland, with additional manufacturing facilities in Iowa and Maryland, Tri-State Envelope will expand Moore’s supply chain stability through increased capacity, redundancy and location diversification. In its multi-state locations, Tri-State Envelope has the capacity to manufacture 20 million envelopes per day.

“Everyone at Tri-State Envelope is very excited about our future as part of Moore,” said Joe O’Donnell, president of Tri-State Envelope. “The envelope manufacturing industry is a critical component in the direct mail business and Tri-State is proud to be on the front lines to provide nonprofits with the materials they need to fundraise for their mission.”

The acquisition comes after the employees of Tri-State Envelope Corporation, through its employee stock ownership plan (ESOP), voted overwhelmingly to approve the transaction with Moore. The company will operate as Tri-State Envelope. Financial details of the transaction were not provided.

We spoke with several employees of the Ashland facility who were very excited about the acquisition.

“Adding Tri-State Envelope as a part of Moore reinforces our commitment to the industry to have product available. We are looking at every aspect of our business to determine where we need to add capacity to strengthen supply chains,” said Gretchen Littlefield, chief executive officer of Moore. “Tri-State Envelope is a trusted supplier to its customers and, as a part of Moore, we will continue to invest in their people, facilities and equipment to position them for future growth and expansion.”

Tri-State Envelope specializes in the manufacturing of high color direct mail envelopes with high-speed equipment capable of running speeds of up to 1,500 envelopes per minute using sophisticated production equipment.