M&A

Esko to sell AVT business to Porat Itay

Piotr Wnuk — Fri, 20 Dec 2024 01:02:02 +0000

Esko has confirmed the sale of its Advanced Vision Technology (AVT) print inspection business to Porat Itay Holdings. The transaction is anticipated to close in Q1 2025, subject to any customary conditions under applicable local law.

The divestiture includes assets, employees, contractual agreements and intellectual property specific to AVT. Under its new ownership, AVT will maintain its brand name, identity, and product portfolio.

Porat Itay is a private company based in Israel, founded by Roy Porat and Yaron Itay. Roy Porat previously held the role of president of AVT from 2020 until 2023, and Yaron Itay has successfully built and led several industrial technology companies in Israel.

‘Selling the print inspection business, enables AVT to operate with the strategic focus necessary to drive its growth and innovation,’ said Joël Depernet, president of Esko. ‘With our commitment to drive value accretive growth within our culture at Esko, it became apparent that our strategic ambitions in packaging management, prepress workflow and flexo platemaking solutions hindered the ambitions of the AVT print inspection business. Under new leadership, I am sure AVT has exciting times ahead. We wish the team the very best for the future.’

‘We are very excited about this opportunity, as it is the beginning of a new era for AVT,’ said Porat. ‘Given my familiarity with the AVT business, I am confident that with the support of the associates globally, we will demonstrate the right strategic focus and commitment to investment to grow the business and serve our customers.’

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1 day 23 hours ago

Short title

Esko to sell AVT business to Porat Itay

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The divestiture includes assets, employees, contractual agreements and intellectual property specific to AVT.

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The divestiture includes assets, employees, contractual agreements and intellectual property specific to AVT.

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Toppan Holdings acquires Sonoco’s TFP business

Akanksha Meena — Thu, 19 Dec 2024 11:33:21 +0000

Toppan Holdings has entered into an agreement with Sonoco Products Company, a global provider of sustainable packaging, to acquire Sonoco’s Thermoformed & Flexible Packaging (TFP) business for approximately 1.8 billion USD on a cash-free and debt-free basis and subject to customary adjustments.

This acquisition is highly complementary, combining the robust sales network, customer base, and solution development capabilities of Sonoco’s TFP business in North and South America with the technical expertise and manufacturing capabilities of Toppan Group’s global packaging business.

Sonoco's TFP is a leading thermoformed and flexible packaging business serving a wide range of customers in food, retail, and medical verticals. TFP provides a variety of complex packaging to value-added categories including snacks, condiments, healthcare, prepared meals, fresh products, coffee, and pet food. On a pro forma standalone basis, TFP had revenue of approximately 1.3 billion USD in 2023.

Hideharu Maro, representative director, president and CEO of Toppan Holdings, said: ‘We are extremely pleased to have the opportunity to bring Sonoco’s TFP business to the Toppan Group. In order to accelerate our strategy to become a global leader in sustainable packaging solutions, we will employ the complementary strengths of both parties to drive growth, solve customers’ needs and create significant value for our shareholders. This is an essential milestone in the Toppan Group’s global strategy to scale the sustainable packaging business.’

This transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.

Under the current medium-term-strategy, the Toppan Group has been transforming its portfolio, and one of its key strategies is to drive sustainable packaging solutions at global scale.

The Toppan Group has been driving innovation in the development of sustainable packaging solutions by establishing a global supply chain from film manufacturing to packaging manufacturing and optimizing cost to meet brand owners’ needs locally and globally.

Houlihan Lokey is acting as lead financial advisor and Morrison & Foerster is acting as legal advisor to Toppan. Mitsubishi UFJ Morgan Stanley Securities is also acting as financial advisor to Toppan.

Goldman Sachs & Co. is acting as lead financial advisor and Freshfields is acting as legal advisor to Sonoco. RBC Capital Markets, is also acting as financial advisor to Sonoco.

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2 days 13 hours ago

Short title

Toppan Holdings acquires Sonoco’s TFP business

Short summary

Agreement reached on acquisition of Sonoco’s TFP business as Toppan Group accelerates expansion of sustainable packaging business in Americas.

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Agreement reached on acquisition of Sonoco’s TFP business as Toppan Group accelerates expansion of sustainable packaging business in Americas.

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Reflex Group expands into US with CB Printed Technology acquisition

Piotr Wnuk — Mon, 09 Dec 2024 00:36:23 +0000

Reflex Group has expanded its global footprint by acquiring CB Printed Technology, a Californian specialist in security labels, marking its entry into the North American market.

This acquisition adds to Reflex’s presence in seven countries, including operations in the UK, Ireland, Sweden, Norway, Poland and Australia. According to CEO Ian Kendall, it strengthens the group’s position in mitigating trade policy changes and reducing environmental concerns associated with shipping.

‘When we bought the Macfarlane Labels business we had quite a lot of export work to the US, and we thought for multiple reasons it would be good to set up in the US,’ said Kendall. ‘The beauty of the (CB Printed Technology) building is that it has a lot of space for expansion. We are planning to invest quite heavily in new equipment.’

The CB Printed Technology facility, covering 3,720sqm, primarily focuses on authentication and anti-counterfeiting products. However, Kendall envisions extending its capabilities into broader label production while sharing expertise between CB Printed and the larger Reflex Group.

As part of its 14 million GBP reinvestment initiative, Reflex Group installed its third Screen inkjet label press in September, adding a Truepress Label 350UV SAI-S model to its Grimsby site. The company also purchased Grafotronic finishing machines in October this year and two Nilpeter presses in November 2023.

The other two Screen Truepress machines are located at Reflex’s Barwell facility in Leicestershire and its Australian site, where the group first adopted Screen technology following the acquisition of an Australian labels company two years ago.

In Australia, Reflex recently upgraded to a 5,000sqm facility in Campbellfield, enabling expanded production of linerless labels with new presses and additional capacity. This expansion aligns with the group’s global strategy, supporting its goal of 190 million GBP in annual sales and reinforcing its workforce of 1,000.

Posted date

1 week 6 days ago

Short title

Reflex Group expands into US with CB Printed Technology acquisition

Short summary

The company heavily invests in new equipment in line with its 14 million GBP reinvestment initiative.

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The company heavily invests in new equipment in line with its 14 million GBP reinvestment initiative.

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River Associates acquires ID Label

Piotr Wnuk — Mon, 02 Dec 2024 22:24:30 +0000

River Associates Investments, a private equity firm based in Chattanooga, TN, has acquired ID Label, a manufacturer of variable information barcode labels based in Lake Villa, IL.

Founded in 1994 and based in Lake Villa, IL, ID Label is one of the industry-leading manufacturers of variable information barcode labels and warehouse signage for 3PLs and multi-site manufacturers.

The Company provides design engineering, production, signage and nationwide installation services for warehousing, supply chain, manufacturing, electronics, calibration, medical, laboratory, lumber and library end markets. ID Label's products are used by global organizations to keep businesses moving with efficiency, speed and accuracy.

‘Throughout the process, River Associates consistently emerged as our top choice,’ said Neil Johnston, founder of ID Label. ‘I'm thrilled they saw ID Label's value and growth potential. We will expand our capabilities and market reach, allowing us to better serve our customers. Most importantly, we will maintain our strong ID Label brand, preserving the quality and reputation we've built over the past 30 years.’

‘We are excited to welcome ID Label to our portfolio,’ said Ken Trent, principal at River Associates. ‘ID Label is an excellent platform for River's fund VIII. ID Label comes with a strong existing management team, an industry-leading brand, and a pristine facility with ample capacity to achieve solid growth for the foreseeable future. We look forward to partnering with the management team and supporting the company as it continues to build on its impressive track record of success.’

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2 weeks 5 days ago

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River Associates acquires ID Label

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River Associates and the ID Label management team will seek complementary strategic add-on acquisitions.

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River Associates and the ID Label management team will seek complementary strategic add-on acquisitions.

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Lecta announces the spin-off of its self-adhesive business

Akanksha Meena — Thu, 28 Nov 2024 13:11:42 +0000

Lecta has revealed the spin-off of its Self-Adhesives business unit from Torraspapel S.A.U. This spin-off will be effective as of January 1, 2025.

It entails the creation of the new company Lecta Self-Adhesives España, S.L.U., which will take over all activities, agreements and commercial relationships relating to the Lecta’s self-adhesives business, including all its self-adhesive products.

This strategic decision reflects Lecta’s transformation and specialization of the Lecta Group that has taken place in recent years, which already envisaged the spin-off of its distribution business in Southern Europe and is now focused on its self-adhesive materials unit. With this new structure, Lecta seeks to optimize the management and profitability of the business through specialization, increase production efficiency and analyze and adapt the opportunities of each business unit to market demands and the needs of its customers.

Lecta Self-Adhesives España, S.L.U. will take over Torraspapel S.A.U.'s position in all agreements and commercial relationships related to its self-adhesives business division and transfer all assets linked to this area across the board. This change will not affect Lecta's commitment to quality of service and customer satisfaction, given that the new structure will allow for significant improvements in processes and product offerings.

Lecta Self-Adhesives España S.L.U. will maintain its headquarters at Llull Street 331, 08019 Barcelona, Spain.

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3 weeks 2 days ago

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Lecta announces the spin-off of its self-adhesive business

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The new entity, Lecta Self-Adhesives España, S.L.U., will be responsible for all the group's self-adhesive activity, agreements and commercial relations.

First paragraph

The new entity, Lecta Self-Adhesives España, S.L.U., will be responsible for all the group's self-adhesive activity, agreements and commercial relations starting January 1, 2025.

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TSC Auto ID acquires Bluebird to broaden product portfolio

Selah Zighelboim — Tue, 26 Nov 2024 14:21:53 +0000

TSC Auto ID Technology is acquiring Bluebird, a global enterprise IoT technology provider. This is a move by TSC to advance its global position and broaden its product portfolio.

Vincent Chen, president of TSC Auto ID, said: 'By offering Bluebird’s award-winning mobile computers and data capture solutions alongside our own robust printing technologies, we shall be able to offer customers more comprehensive solutions. The demand for seamless input and output devices continues to grow, and our vision is to deliver integrated, efficient solutions to meet evolving needs and enhance overall customer experience.'

Chen added: 'Following the acquisition, Mr. Jinoh Kim will continue his strong leadership of Bluebird but as its CEO. His appointment as CEO ensures continuity and leverages his expertise at driving Bluebird's growth within the TSC Auto ID family.'

Bluebird has a strong presence in retail and health care and brings design and development expertise in mobile computing.

Kim said: 'TSC’s reputation for excellence and innovation, along with its focus on global expansion, makes it an ideal partner for us. By joining forces, we are uniquely positioned to serve our shared markets and customers more effectively. This collaboration allows us to be more competitive and deliver greater value through a wider suite of integrated products and services.'

TSC and Bluebird aim to become leaders in integrated auto ID technology and services.

Post-acquisition, Bluebird will continue its independent operations, with TSC helping optimize its management system. The two will collaborate on product roadmap integration, technical support and joint sales and marketing initiatives.

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3 weeks 4 days ago

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TSC Auto ID acquires Bluebird to broaden product portfolio

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Bluebird is a global enterprise IoT technology provider with a strong presence in retail and health care.

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Bluebird is a global enterprise IoT technology provider with a strong presence in retail and health care.

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Mavco Investments acquires hubergroup

Piotr Wnuk — Mon, 25 Nov 2024 00:28:39 +0000

Mavco Investments, a private investment firm, has acquired all shares in hubergroup from the current owner, Cornelius Treuhand Holding. This transaction gives Hubergroup a unique platform to enhance its market position, strengthen its financial base, and increase investments in high-impact areas.

The consortium's planned investment in Hubergroup signifies a commitment to long-term, sustainable growth. The combination of the operational track record and strategic industrial expertise of the partnering Murugappa family members, along with the investment expertise of Avenue Capital Group, provides hubergroup with a unique platform to enhance its market position, strengthen its financial base, and increase investments in high-impact areas.

M.A.M. Arunachalam (also known as Arun Murugappan), director of Mavco Investments, said: ‘We are excited to announce our partnership with hubergroup, an organization with a rich heritage spanning multiple centuries. This collaboration marks our strategic entry into the global print/packaging solutions and allied products. Together with Avenue Capital Group, we are committed to accelerating hubergroup’s growth in key international markets and enhancing its ability to deliver exceptional value to all its business partners worldwide.’

Pankaj Goel, head of partnerships in Asia Pacific, and Rohit Santani, head of India for Avenue Capital Group, added: ‘We are excited to partner with Mavco to unlock hubergroup’s potential in new and existing markets and deliver robust and profitable growth for the years to come. Mavco’s strategic vision and operational expertise combined with hubergroup’s drive for innovation and growth potential fits perfectly with our approach to back transformative businesses.’

This investment also allows hubergroup to capitalize on high-growth opportunities across geographies. The regions where demand for high-quality chemicals and print/packing solutions is growing, represent significant areas for expansion. The backing from the consortium will allow hubergroup to meet this demand and unlock new market potential.

Florian Dausend and Markus Stadler, managing partners of Cornelius Treuhand Holding, commented: ‘As trustees, our priority has been to ensure a robust and strategically sound future for hubergroup. We are confident that the consortium provides the ideal foundation for hubergroup’s growth, stability, and continued success across the globe.’

Britta Hübner, chief transformation officer of hubergroup, concluded: ‘This acquisition is proof of the resilience and commitment of our entire team. Our efforts to transform into a robust, sustainable foundation have paid off, and together with the consortium, we are well positioned for significant growth and industry leadership.’

Posted date

3 weeks 6 days ago

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Mavco Investments acquires hubergroup

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The transaction enhances hubergroup’s market position, strengthens its financial base, and increases investments in high-impact areas.

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The transaction enhances hubergroup’s market position, strengthens its financial base, and increases investments in high-impact areas.

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Amcor and Berry Global merge

Piotr Wnuk — Wed, 20 Nov 2024 23:42:41 +0000

Amcor and Berry Global Group have entered into a definitive merger agreement, pursuant to which Amcor and Berry will combine in an all-stock transaction.

Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63 and 37 percent of the combined company, respectively. The transaction has received unanimous approval from the boards of directors of both Amcor and Berry and values Berry’s common stock value is 73.59 USD per share.

The combination brings together two highly complementary businesses to create a global consumer packaging company with a broader flexible film and converted film offering for customers, a scaled containers and closures business and a unique global healthcare portfolio.

The combined company will have united innovation capabilities and scale and be uniquely positioned to accelerate growth, solve customers’ and consumers’ sustainability needs, unlock portfolio transformation and deliver significant value to both sets of shareholders

Amcor CEO Peter Konieczny said: ‘This combination delivers on our strategy to accelerate growth by putting the customer first, elevating the role of sustainability and orienting the portfolio toward faster growing, higher margin categories. We will have a more complete and more sustainable product offering, supported by stronger innovation capabilities, global scale and supply chain flexibility.

‘We will help global and local customers grow faster and operate more efficiently with a team of exceptional talent. As a result, this combination also drives a step change in annual free cash flow, earnings growth and value creation for our shareholders. I, and the Amcor team, look forward to joining with Berry to accelerate change and real impact for our customers and their consumers.’

Berry CEO Kevin Kwilinski added: ‘Over the past year, Berry has undergone a significant transformation, completing the spin-off of our HHNF business, enhancing our product mix and optimizing our portfolio. Our combination with Amcor is a logical next step in our company’s evolution, and it is a testament to our entire team that we’re well positioned to build on this momentum and deliver even more value to our shareholders. We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and a complementary geographic coverage. Importantly Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence. We will be better together, and I look forward to all we will achieve as a combined organization.’

Konieczny will serve as chief executive officer, Graeme Liebelt will serve as chairman and Stephen Sterrett will serve as deputy chairman of the combined company.

Amcor will maintain its primary listing on the NYSE and its secondary listing on the ASX. The combined entity will be named Amcor plc.

The combined company’s global head office will remain in Zurich, Switzerland, and it expects to maintain a significant presence in Evansville, Indiana.

Posted date

1 month ago

Short title

Amcor and Berry Global merge

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Transaction aimed at creating a global leader in consumer and healthcare packaging.

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Transaction aimed at creating a global leader in consumer and healthcare packaging.

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Labelink acquires International Label & Printing

Selah Zighelboim — Thu, 07 Nov 2024 16:24:34 +0000

Labelink, a North American manufacturer with a diverse portfolio of printing technology for packaging, is acquiring International Label & Printing, a printing converter in Chicago with ties to the consumer packaging sector.

This acquisition not only enhances Labelink’s presence in the US but also accelerates its plans to expand its footprint in North America.

Stéphen Bouchard, president of Labelink, said: 'We are delighted to find a home in Chicago and are looking forward to combining the expertise of the IL&P staff with our innovative and relentless desire to improve. We’re stronger together! Hello, Chicago!'

International Label has roots tracing back to the 1940s.

Mark Turk, former president and CEO of International Label & Printing, said: 'We are very proud and excited to be joining the Labelink team. We have been a customer of theirs for years, and because of their wide range of diverse technical capabilities, we will be able to offer our customers even more services. We feel that we in turn will be able to offer Labelink customers additional capabilities and services as well.'

International Label & Printing will continue to serve both existing and new customers, now operating under the Labelink USA name.

Posted date

1 month 2 weeks ago

Short title

Labelink acquires International Label & Printing

Short summary

Canadian manufacturer Labelink's new acquisition accelerates the company's plans to expand in North America.

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Canadian manufacturer Labelink's new acquisition accelerates the company's plans to expand in North America.

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INX Group acquires Coatings & Adhesives Corporation

Piotr Wnuk — Tue, 05 Nov 2024 00:52:39 +0000

INX Group Limited, a wholly owned subsidiary of Sakata INX, has acquired Coatings & Adhesives Corporation (C&A), one of the leading players in the North American coatings industry, particularly known for its specialty products.

INX International Coatings and Adhesives will operate as a sister company alongside INX International Ink Co., united under a single management group to deliver complementary ink and coating products to the packaging market.

C&A has over 35 years of expertise and a rich legacy of excellence. Its focus is on service, product quality and competitive pricing.

This strategic partnership with C&A allows INX to grow the newly united business further by driving enhanced value in the category through the combined experience and understanding of industry dynamics brought by INX and C&A's leadership.

The companies are poised to innovate and elevate the industry while enhancing customer satisfaction and operational excellence. Significant initiatives are already underway to capitalize on this merger, paving the way for substantial growth.

‘Our commitment to innovation, quality and service aligns perfectly with C&A's legacy,’ said Bryce Kristo, president and CEO of INX International. ‘We are not merely merging companies; we are creating new possibilities and setting a new standard for excellence in the packaging market.’

‘We believe that by leveraging our combined expertise, we can offer greater efficiency to meet and exceed our customers' needs,’ added Rick Pasin, owner and president of C&A. ‘This partnership positions us as industry leaders, ready to embrace transformative success.’

Posted date

1 month 2 weeks ago

Short title

INX Group acquires Coatings & Adhesives Corporation

Short summary

The company launches a new entity, INX International Coatings and Adhesives.

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The company launches a new entity, INX International Coatings and Adhesives.

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