Multi-Color Corporation (MCC) announced it has entered into an agreement to acquire 100% of Flexo Print S.A. De C.V., based in Guadalajara, Mexico. The acquisition is expected to be completed on Aug. 1, 2013.
Flexo Print is a leading producer of home and personal care, food and beverage, wine and spirit and pharmaceutical labels in Latin America, with annual revenues of approximately $30 million.
"We are delighted to have Flexo Print join our Multi-Color group,” Nigel Vinecombe, Multi-Color president and CEO, said. “This acquisition offers us significant growth opportunities in Mexico through our many common customers, technologies and suppliers. Flexo Print's current president, Fernando Aranguren, is staying on to lead the company, along with his experienced management team and staff. We look forward to working with the Flexo Print team to continue to expand the Multi-Color group into Latin America. The business will change its name to Multi-Color Corporation (Mexico)."
Flexo Print has been a leader in pressure sensitive labels since its establishment in 1994.
"Joining global label company Multi-Color Corporation is a natural progression for us to support growth with our national and international brand owners with more and more of their label needs,” said Mr. Aranguren. “Our portfolio now includes shrink sleeves and pouches, and we are excited about the comprehensive label solutions we can provide as part of Multi-Color."
During the three months ended June 30, 2013, MCC also expanded its global leadership position in wine labels by completing acquisitions in Australia and France. These acquisitions are expected to add approximately $10 million in annual revenues.
In Adelaide, Australia, MCC acquired Labelmakers Wine Division. The operations for this acquisition were consolidated into MCC Adelaide during the quarter.
In the Champagne region of France, MCC acquired Imprimerie Champenoise. This acquisition complements our existing French operations in Burgundy and increases our ability to support local champagne producers in the region.