AIC had $130 million in sales in 2015, and is ranked the eighth-largest North American ink manufacturer in Ink World’s North American Top 20 Report for 2016.
This strategic acquisition combines two well-established suppliers of inks and coatings to the North American packaging industry, creating a strategic position for Flint Group in the Paper & Board packaging segment and an enhanced position in the Flexible Packaging segment. With this investment, Flint Group will extend its reach and expand its product portfolio, strengthening its overall support of packaging printers in the North America region. The leadership of Flint Group and AIC are excited about this partnership and the opportunities for their North American customers.
“I am very happy to announce this acquisition which will further support our customers with best-in-class products and dedicated service,” Doug Aldred, President Flint Group Packaging & Narrow Web, said. “The investment by Flint Group is confirmation of its strategy and commitment to strengthen our foundation in Paper & Board and Flexible Packaging - both of which are key print segments for the company.
“By combining the technical innovations and product expertise of both Flint Group and AIC, we provide packaging printers in North America with a customer-focused inks and coatings supplier who can provide the best overall solutions,” Aldred added. “With our two companies coming together as one, we will create a business which can deliver what is needed by printers today and well into the future.”
“Our customers will directly benefit from this partnership,” said Michael Mosley, president of American Inks and Coatings. “We are combining two strong leaders in the packaging industry who are dedicated to customer success; we have a great opportunity to provide our customers with new solutions through increased people and product resources. AIC is looking forward to a successful future as part of Flint Group.”
“American Inks and Coatings has become a leader in the North American packaging sector by listening to our customers and providing the products and services they need to grow their businesses,” Jerry Mosley, CEO of American Inks and Coatings, added. “We have been committed to the thorough understanding of our customers’ manufacturing and quality control requirements through considerable investment in research and development. I am very pleased that our company will be joining Flint Group; we share the same philosophy of strong customer focus combined with product and service excellence.”
“We are delighted to welcome the AIC team to Flint Group,” said Antoine Fady, CEO Flint Group. “Through our partnership, we will grow our service base with skilled experts and our innovation through extended product offerings. In addition to increasing our infrastructure in North America, we are now well positioned to offer additional support and innovation to global customers.
“Flint Group will continue to build our businesses in ways that enable us to deliver the very best products, solutions and expertise to the printing industry around the world. The investment in American Inks and Coatings is an important building block of this overall strategy,” Fady concluded.
The transaction remains subject to customary closing conditions, including necessary regulatory approvals, and should be completed later in 2016.