US-based Multi-Color Corporation (MCC) has announced the addition of French Wine Label Specialist, Monroe Etiquette to its European Wine & Spirit label group.
MCC has entered into a binding agreement to acquire 100% ownership of the company for a purchase price of €8m, payable in cash. Closing is expected to be on or about 1 October 2010 and is expected to be immediately accretive to earnings for MCC. Monroe Etiquette is centrally located in Montagny, near Lyon in France, has annual revenues of approximately €7m.
MCC President & CEO Nigel Vinecombe commented that Monroe Etiquette represents the ideal local entry into the French market and is very complimentary to their 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 added.
MCC is one of the world’s provider of label printers, specialising in the home & personal care, food & beverage and wine & spirit markets.