Private equity firm Platinum Equity has completed the acquisition of US-based label solutions provider Multi-Color Corporation for around $2.5bn (£1.97bn).

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Image: Platinum Equity has completed acquisition of label solutions provider Multi-Color. Photo: courtesy of rawpixel from Pixabay.

Under the deal, Multi-Color has been integrated with a subsidiary of WS Packaging, another label solutions provider within Platinum Equity’s portfolio of companies.

In February this year, Platinum Equity first agreed to acquire Multi-Color, which includes labelling capabilities such as decorative technologies, print technologies and pre-press technologies.

Platinum Equity partner Louis Samson said: “Bringing these companies together creates one of the most extensive manufacturing and production footprints in the industry and a business with unrivaled technology and expertise.”

The combined entity will be known as Multi-Color Corporation, a $2.2bn (£1.74bn) annual revenue business with 86 plants in 26 countries and more than 10,000 employees across the globe.

At present, WS Packaging is a Multi-Color business unit and will continue to provide services to the customers with its own management team, sales force and plants.

Based in Ohio, the new Multi-Color Corporation provides label solutions for the customers in the home and personal care, wine and spirits, food and beverage, healthcare and specialty consumer segments.

With a range of latest label technologies in pressure sensitive, in-mould, shrink sleeve, wraps, cut and stack, heat transfer, durables and aluminium foils, the company assists national and international brand owners in North, Central and South America, Europe, Africa, China, Southeast Asia, Australia and New Zealand.

Multi-Color current executive chairman Nigel Vinecombe has been selected as the CEO of the combined company.

Vinecombe added: “I am excited for this opportunity to open new areas of growth for our company that will allow us to even better serve our customers with a comprehensive suite of label solutions across all regions, technologies and run lengths.

“This is a testament to all Multi-Color Corporation has achieved in our mission to deliver the world’s best premium label solutions – and we are confident this is only the beginning of what we will accomplish together with WS Packaging.”