Sydney private equity firm Mercury Capital is seeking potential buyers for Hexagon Holdings, the multi-subsidiary Australian label production hub which encompasses Adhesif Labels and Hally Labels.
Auckland-headquartered Hexagon employs more than 500 staff across 10 production facilities. It owns eight major label manufacturing facilities in New Zealand and Australia, including Adhesif Labels (Auckland, Sydney), Hally Labels (Auckland, Brisbane, Christchurch, Sydney), Kiwi Labels (Christchurch) and Rapid Labels (Auckland).
Mercury Capital is seeking potential buyers for the A$300-400 million (US$232-310 million) group. Investment bank Goldman Sachs has been shopping Hexagon and its management team to potential suitors in recent weeks, pitching the company as, ‘the leading Australasian labels platform with about A$40 million in annual earnings’, according to the Australian Financial Review’s Street Talk.