Acquisition expands MCC's footprint in Northern Europe
Cincinnati and Stavenger, Norway, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Multi-Color Corporation, one of the largest label companies in the world, today announced the acquisition of Skanem Group's label operations in Europe and Thailand from the Skanem Group.
The transaction is expected to close during Q4 2021. Financial terms were not disclosed.
Multi-Color Corporation is acquiring seven of Skanem Group's facilities in Denmark, Norway, Poland, Sweden, the United Kingdom and Thailand. The transaction excludes Skanem's label operations in India and Kenya.
Nigel Vinecombe, CEO of Multi-Color Corporation, said: "Skanem Europe gives MCC broader access to home and personal care, regional food and beverage, and other specialty markets, as well as an experienced team capable of building on existing and new growth opportunities. Skanem Thailand complements MCC Thailand and provides scale in this sizeable and growing Southeast Asian market. For a long time, we have recognized the success Ole Rugland and team have had building an impressive portfolio of customers and operations and we are delighted MCC has been chosen to support future success."
Ole Rugland, Executive Chairman of Skanem Group, said: "Over the last 20 years, we have built a profitable and competitive label business in Europe, India, Africa and Southeast Asia. We have now reached a stage where our business in Europe and Southeast Asia, by joining a global player like MCC, will give possibility for further growth. In these regions, MCC and Skanem are highly complementary and we believe that this will create new opportunities for employees and add value to our customers. The Skanem Group will continue to invest in India and Africa where we see exciting opportunities for further growth and expansion."
About Multi-Color Corporation
Cincinnati, Ohio, U.S.A. based Multi-Color Corporation (MCC), established in 1916, is a leader in global label solutions supporting a number of the world's most prominent brands including leading producers of Beverage, Wine & Spirits, Food & Dairy, Personal Care & Beauty, Home Care & Laundry, Healthcare, Durables & Technical and Automotive & Chemicals. MCC serves national and international brand owners in North, Central and South America, Europe, Africa, China, Southeast Asia, Australia and New Zealand with a comprehensive range of the latest label technologies in Pressure Sensitive, Cut and Stack, Wraps, Aluminum, In-Mold, Shrink Sleeve and Heat Transfer. MCC employs over 9,000 associates across over 70 label producing operations globally.
For additional information on Multi-Color Corporation, please visit http://www.mcclabel.com (http://www.mcclabel.com/).
About Skanem AS
Founded in 1905 and headquartered in Stavanger, Norway, Skanem Group is a leading provider of pressure sensitive labels to international and regional customers in the food, personal care, home care, automotive and other markets.
For additional information on Skanem AS, please visit http://www.skanem.com (http://www.skanem.com)
Contacts
For Multi-Color Corporation:
Sharon E. Birkett
Vice President and Chief Financial Officer
513-345-5311
InvestorRelations@mcclabel.com (mailto:InvestorRelations@mcclabel.com)
For Skanem AS:
Ole Rugland
Executive Chairman
+47 911 69 155
ole.rugland@skanem.com
