Multi-Color Corporation is acquiring seven of Skanem Group’s label operations in Denmark, Norway, Poland, Sweden, the United Kingdom and Thailand.
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 recognised 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.’
The operations in India and Kenya will remain in the Skanem Group and will be the platform for expansion in India and Africa through both organic growth and acquisitions. The Skanem Group will also expand in the packaging business and in other areas in Europe, continuing to combine the benefits of being an international group with strong local presence in Europe, Africa and India
The transaction is expected to close during Q4 2021. Financial terms were not disclosed.
