The acquired businesses have been renamed as GPS-Rotomet, which will operate as a wholly-owned subsidiary of All4Labels
German label printing firm All4Labels Global Packaging Group has completed the acquisition of Italian Shrink Sleeves supplier Rotomet as well as the roll-fed activities of the GPS Group.
The financial terms and conditions of the deal were not disclosed by the companies.
The acquired businesses have been renamed as GPS-Rotomet, which will operate as a wholly-owned subsidiary of All4Labels.
Daniele Grotto and Andrea Cerisara, who founded and developed the business, have become the shareholders in All4Labels and part of the management team.
For the business continuity, Grotto will retain the chairmanship of GPS-Rotomet and Cerisara will continue to run the roll-fed and shrink sleeve businesses.
All4Labels expects the deal to strengthen its position in shrink sleeve and roll-fed segments
All4Labels expects that the new acquisition will contribute to strengthening its position in shrink sleeve and roll-fed segments.
Also, All4Labels said that GPS group’s shopping bags division is not part of the deal and remains under the full control of the Grotto family.
All4Labels Group CEO Adrian Tippenhauer said: “We are extremely pleased and proud to welcome Grotto and Cerisara and the entire GPS Label and Rotomet employees as new partners and members of the All4Labels Group.
“With the new team on board and their world-class manufacturing facilities in Italy, we are strengthening our position in the Shrink Sleeve and Roll-Fed market and benefit from many years of experience in this segment. We are looking forward to continuing the All4Labels success story together.”
GPS Label and Rotomet together accounted for a combined turnover of about €50m ($59.3m) last year with their two facilities in Schio, Italy.
In November last year, Triton had announced the acquisition of a stake in All4Labels Group for an undisclosed amount.
All4Labels is a label manufacturer and provides digital printing solutions primarily for the customers in the home and personal care as well as food & beverage markets.