Sato takes majority stake in Okil

Okil is headquartered in Saint Petersburg, Russia and holds the top position in the country’s label market with a 15 percent market share, recording 54.5 million USD in sales in the 2013 financial year. It operates additional sales and production centers in Moscow, Ekaterinburg, Samara, Omsk, Veliky Novgorod and Novosibirsk.

Okil specializes in value-added product labels for the food and beverage, beauty and healthcare industries, and boasts a large customer base comprised of local companies and a variety of major multinational corporations. 

Sato said Russia’s label market is expected to grow exponentially with double digit growth since the late 2000s reported, and an average annual growth rate of 13 percent from the years 2009 to 2013.

Sato said its deal to acquire the majority of Okil, completed on December 19, acquisition strengthens its business network in Brazil, Russia, India, China, and South Africa (BRICS).

Going forward, Okil will now operate as a subsidiary within the Sato Group.

Sato Holdings president and chief executive officer (CEO) Kaz Matsuyama said: ‘Okil is recognized as a local market leader and fits perfectly into Sato’s strategic roadmap.

‘Our mid-term strategy is focused on achieving sustainable growth, while maximizing value for customers across the globe. This acquisition allows us to further solidify that strategy, establishing a foothold in Russia and strengthening our network within BRICS markets, which offer tremendous growth opportunity.’

‘We are excited to be moving into 2015 with Sato,’ added said Denis Okulov, Okil’s founder and CEO. ‘Being part of the SATO Group will connect Okil to a wider global network, and allow us to deliver greater value to local customers through Sato’s diverse range of solutions.’