Danish subsidiary of AstroNova, ANI ApS, has agreed to acquire Trojanlabel ApS for DKK 63.6 million (approximately £7.48 million).
The acquisition of the European manufacturer, whose product lines include digital colour label presses and print station OEM modules, is expected to close at the beginning of February 2017 and to be accretive to AstroNova’s earnings in the first 12 months of combined operation.
‘We are excited about becoming part of the AstroNova team,’ said Mikkel Wichmann, Trojanlabel managing director. ‘Our companies not only align perfectly from a technology standpoint, but also share similar operating cultures. Like AstroNova, much of our success can be attributed to staying close to our customers and tightly managing product development and manufacturing processes to ensure a short time to market, and a focus on creating products that are cost-effective for a broad range of users and industries.’
‘Trojanlabel has an extremely talented R&D group that will help further accelerate our own product development process,’ said Gregory A. Woods, AstroNova’s president and CEO. ‘We’re excited about bringing Trojanlabel’s team, innovative technology and outstanding products into the AstroNova family,’
Following completion of the acquisition, Trojanlabel will operate as an indirect wholly owned subsidiary of AstroNova.
