MINNEAPOLIS – Seven years after selling his majority stake in the envelope company he founded, nationally known speaker and author Harvey Mackay is buying back into the company as an equal partner.
The company, one of the nation’s largest manufacturers of envelopes, will become known as MackayMitchell Envelope Co. Scott Mitchell will remain as Chief Executive Officer, and Mackay will serve as Chairman.
Mackay purchased a small, 12-person operation in 1959. The Minneapolis-based company has operated as Mackay Envelope since that time. He sold his majority stake in the firm in 2000.
Mitchell joined the company in 1993 and took over as CEO in 1993. The company today has 450 employees in Minnesota, Iowa and Oregon and makes some 20 million envelopes per day.
“Hundreds of us have poured ourselves into building this company into the rare gem it is today,” said Mitchell. “We’re thrilled to have Harvey play an even greater role and to plant our flag firmly focused on the future.”
Details of the transaction were not announced.