announced that the anticipated acquisition of the company by an affiliate of Platinum Equity, a private equity firm, is now complete.
At closing, Multi-Color Corporation merged with a subsidiary of WS Packaging, another label solutions leader within Platinum Equity's portfolio of companies.
The combined company, which will be known as Multi-Color Corporation and headquartered in Cincinnati, OH, is a $2.2 billion USD per annum revenue business with 86 plants in 26 countries and more than 10,000 global employees. WS Packaging is now a Multi-Color Corporation business unit and will continue to serve customers with its own management team, sales force, plants and Green Bay, WI-based support services.
Nigel Vinecombe, executive chairman of Multi-Color Corporation's Board of Directors since January 2016, and president and CEO of the Company from June 2010 to January 2016, has been named CEO for the combined company.
"I am excited for this opportunity to open new areas of growth for our company that will allow us to even better serve our customers with a comprehensive suite of label solutions across all regions, technologies and run lengths," Vinecombe said. "This is a testament to all Multi-Color Corporation has achieved in our mission to deliver the world's best premium label solutions - and we are confident this is only the beginning of what we will accomplish together with WS Packaging."
Vinecombe succeeds Mike Henry, who is transitioning into an advisory role with the company.
"As we take these next steps, I want to thank Mike for his leadership and the contributions he's made to Multi-Color's growth and success," said Vinecombe.
As of July 1, 2019, Multi-Color Corporation is a privately held company, and shares of Multi-Color Corporation common stock will cease trading on the Nasdaq Stock Market after the close of market.