Multi-Color Corporation (MCC) is to acquire Skanem Group’s label operations in Europe and Thailand.
Specifically, MCC is acquiring seven of Skanem Group’s facilities in Denmark, Norway, Poland, Sweden, the UK and Thailand. The transaction excludes Skanem’s label operations in India and Kenya.
Skanem Group executive chairman Ole Rugland 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.’
This acquisition, expected to close in Q4 2021, is the latest in a number of deals designed to strengthen MCC’s position as a global force for labels and packaging, not least its merger with Fort Dearbornn to create a $3 billion business. The overall business also includes a substantial installed base of digital printing hardware and increasing capacity for digital print production.
MCC CEO Nigel Vinecombe commented, ‘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.’
Mr Vinecombe concluded, ‘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.’
