Multi-Color Corporation (MCC), a US based producer of printed in-mold labels for food and beverage products, has signed a binding agreement to acquire ownership of Monroe Etiquette, a French wine label specialist.
Post this acquisition, which is worth EUR8m, Monroe Etiquette, which is centrally located in Montagny, near Lyon in France, will be a part of MCC’s European Wine & Spirit label group.
The acquisition is expected to close on or about 1 October 2010 and is expected to be immediately accretive to earnings for MCC.
MCC president and CEO Nigel Vinecombe said that Monroe Etiquette represents the ideal local entry into the French market and is very complimentary to the company’s recent acquisition of Guidotti CentroStampa in Italy.
“Stanislas Monroe and his team will continue to run the business based in Montagny. The quality of this business is second to none and will enhance the Collotype Wine & Spirit label division’s global leadership position, Vinecombe said.
MCC specializes in the home & personal care, food & beverage and wine & spirit markets, and has operations on four continents.