Worcester Envelope Co. has sold part of its Auburn headquarters property to its new owners for just over $5 million in a deal closed the same day the 125-year-old company announced it was sold.
Worcester Envelope, which makes direct-mail envelopes, was bought by Moore DM Group, a marketing firm with locations across the country, in a deal announced in mid-February. The sale of roughly half the company s Auburn headquarters, which is split in two buildings on two adjoining parcels, closed on Feb. 12, the same day of that announcement.
The owner is a limited liability corporation registered to Moore s Oklahoma headquarters. The company couldn t be reached for comment.
Worcester Envelope, a 125-year-old company, specializes in manufacturing high-color direct-mail envelopes.
“This acquisition was the right fit for us as we are committed to increasing our capacity and geographic footprint in the envelope manufacturing space. With this addition, we have over 347,000 square feet of envelope manufacturing in Kansas, Massachusetts, Missouri and Virginia,” said Gretchen Littlefield, CEO of Moore, in a statement.
Leadership at Worcester Envelope will remain the same. Derek Waterhouse will stay on as president and report to Moore’s manufacturing chief officer, Jeff Pelcher.
“Through the years other companies have approached us, but the fit wasn’t there,” Waterhouse said in a statement. “Every interaction with the people of Moore has reinforced that we share a common vision. It is clear that they are the right partner and that now is the right time.”