From http://www.packagingnews.co.uk/
Whisky and wine label specialist Labelgraphics is to become part of a multinational group after being bought by US-based Multi-Color Corporation (MCC).
The £13m-turnover business, based in Glasgow, will become part of the group when the deal – for a total of around £16.5m – completes in early April.
A statement from MCC said that the deal, which includes a three-year earn-out for Labelgraphics’ owners, would allow it to tap into the growing global export market for Scottish spirits.
It is also looking for significant growth from Labelgraphics, which was established in 1982 and has recently moved to a new facility where it employs around 100 staff.
MCC, meanwhile, has annual turnover of around $650m and operates 28 plants across the Americas, Europe, Australasia and China.
Alex Mulvenney, Labelgraphics’ managing director, will continue to run the company and will become part of MCC’s senior global management team. He will also take charge of for global account management for a number of key customers.
MCC president and chief executive Nigel Vinecombe said his company had had “an excellent relationship with Labelgraphics’ owners for many years”.
“Building on the success of Alex Mulvenny, Sr., Alex and Peter Mulvenny and the current Labelgraphics’ team are the leading Wine & Spirit label company in the UK and rank among the best in the world for quality, service and results,” he said.
Mulvenny said: “The Labelgraphics senior management team looks forward to being part of MCC, including being part of the global leader in Wine & Spirit labels.
“We continue to make a long term commitment to our Scottish operation and our integration into the MCC group.”
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