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Mail-Well sells Curtis 1000

Feb 24, 2002 12:00 AM

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Mail-Well, Inc. (Englewood, CO) announced it has consummated the sale of all of the capital stock of its Curtis 1000, Inc. subsidiary in exchange for $40 million, including assumption of Curtis's debt.

In connection with the sale, Mail-Well's envelope and printed office products divisions entered into supply agreements with Curtis 1000 through which those divisions will continue their supply relationships with Curtis 1000.

"The sale of Curtis 1000 is an excellent step forward in the implementation of our strategic plan," said Woody Davis, Mail-Well's senior vice president, corporate Development. "We are narrowing our lines of business and reducing our debt load, two of the key components we outlined in June of 2001."

The purchaser is Curtis Acquisition Corp., a privately held company.