Siegwerk Group to Acquire CCI Color Converting Inc.

Siegwerk Group of Siegburg, Germany, has signed an agreement to acquire CCI Color Converting Inc., based in Des Moines, IA. The acquisition, which will extend the presence of Siegwerk Group in North America and strengthen its overall global position as a packaging ink market leader, is expected to be finalized in early December. The approval by the U.S. Antitrust Commission is expected by the end of November.
    
“The packaging industry has a demand for our products and services worldwide,” said Herbert Forker, CEO of Siegwerk Group.
    
Siegwerk Group and CCI have maintained close business contact for several years and, during this time, have developed a strong mutual respect for each others’ capabilities in the packaging industry. This, coupled with a desire by both organizations to develop a more global market reach, has led the companies to join forces in the North American market as CCI Color Converting Inc., a division of the Siegwerk Group.
    
“We have been working with Siegwerk on technical exchanges since 1997, and as the issue of globalization increases, we felt we needed to have a greater presence worldwide,” said Shannon Barry, vice president of marketing for CCI. “We’re very complementary.”
    
Through the acquisition, Siegwerk Group expands its presence in the U.S. and strengthens its position as a global player in the printing ink market. Siegwerk Group has production facilities and sales offices in the U.S., Western and Eastern Europe as well as in Asia-Pacific.     
    
Siegwerk Group is the Central European leader in packaging inks and publication gravure inks. Additionally, Siegwerk Group’s Lynchburg, VA-based facility is one of the three largest publication gravure ink suppliers in the U.S.
With combined annual revenues of more than $500 million in the areas of packaging inks and publication gravure inks, Siegwerk Group becomes the third-largest European manufacturer of printing inks. In the field of high quality packaging inks for flexible packaging, Siegwerk Group has become the second-largest ink supplier, with combined annual revenues of $290 million.
    
Ron Barry, CCI’s founder, is retiring, but the rest of CCI’s management team and employees will remain in place.