Flint Group to Acquire Ink Manufacturer Torda
LUXEMBOURG—Flint Group, a global solutions provider to the packaging and print media industries, recently signed an agreement to acquire Torda, a manufacturer of printing inks for the packaging markets in Northern Europe, the Balkans, the Middle East, and Eastern Europe.
“We are delighted about the agreement with Torda. The company’s business model and performance is an excellent fit for our strategy,” says Dr. Dirk Aulbert, president of Flint Group’s Global Packaging and Narrow Web division. “Torda’s setup, especially in Eastern Europe, the Balkans, and the Middle East, ideally complements and expands our network of manufacturing and service facilities into these growth markets.”
“Thanks to its solid product platform and a service-focused business culture, Torda is a well-established supplier to the packaging industry with a strong foothold in the food packaging sector,” comments Fredrik Danielsen, CEO of Torda. “Ever since we started to look for a partner, we regarded Flint Group as our favorite candidate to join forces with. We are confident that our customers will benefit from this transaction, getting access to a broader range of specialised products and services.”
This acquisition is Flint Group’s third step to foster its expansion in Eastern European markets within the last twelve months. In 2009, Flint Group acquired the Russian packaging ink manufacturer and distributor Premo Inks. In January 2010, Flint Group announced the expansion of its packaging inks manufacturing operations in Poland to meet increased demand.
Charles Knott, CEO and chairman of Flint Group, concludes, “The acquisition of Torda supports our strategy to grow in the packaging print consumables market in a sustainable and profitable way by strengthening our position in the faster growing markets. Moreover, Torda has some excellent technology positions which we will be able to leverage throughout the global Flint Group Packaging organization.”
The transaction is expected to close by the end of March 2010.