Multi-Color To Expand European Label Printing Footprint
CINCINNATI, Ohio—Multi-Color Corporation (MCC) announced it entered into a Share Purchase Agreement to acquire 100 percent of consumer products and spirit label company, Warszawski Dom Handlowy (WDH) in Warsaw, Poland. The purchase price is approximately $9.3 million (PLN 26 million), payable in cash. Closing is expected to be on or about July 1 and the accretion to earnings is expected to be neutral for MCC. WDH had revenues of approximately $11 million (PLN 32 million) in 2010. The company supplies a number of large consumer products international brand owners in home and personal care markets, consistent with MCC's larger customers in the United States. The company will be renamed Multi-Color WDH (Poland).
“This acquisition is consistent with our strategy to support international brand owners in more markets, especially developing markets like China and Central and Eastern Europe,” says Nigel Vinecombe, president and CEO of Multi-Color. “WDH owners, Andrzej Piatkowski and Miroslaw Szczesny, will continue to run the company they started over 20 years ago. The company specializes in the growing pressure sensitive label market with similar modern technologies to many of MCC's operations. We are excited about the growth opportunities in Poland and in Central and Eastern Europe, and WDH provides MCC with an excellent platform for growth in this region.”