Manufacturer Oles Envelope Corp. in Baltimore has been bought by a Virginia rival, but will maintain most of the current workers and operations, the companies announced Monday.
Double Envelope of Roanoke, Va., closed on its acquisition of Oles, which employs about 115 people, on April 27.
The name of the plant will eventually be changed to that of the new company, said John Draper, vice president of sales at Double Envelope.
Top management will lose their jobs, but most of the other workers will be retained, Draper said.
The acquisition allows Double Enveloped to expand further into the Northeast.
Oles was founded in 1912 and operates an 115,000-square-foot facility that makes envelopes for the direct mail market. Financial details of the deal were not disclosed.