Multi-Color acquires Italian converter

US converter Multi-Color Corporation (MCC) is expanding its business into Europe with the acquisition of Guidotti CentroStampa, an Italian label printer. 

Multi-Color said it has a binding agreement to purchase Guidotti for 50.5 million euros, (USD $61.6 million), according to a press release. The deal is expected to be completed by July 1.  

The purchase will give the Cincinnati-based company an entry into the olive oil label market. Guidotti, based in Lucca, Italy, makes labels for wines, spirits and olive oil. The family-owned firm, founded in 1977, has annual revenues of around 35 million euros, and serves wine makers in France and Spain and spirits manufacturers in the UK and Eastern Europe. 

Andrea Guidotti, who heads Guidotti, will serve as president and managing director of Multi-Color’s European wine and spirits operations, Multi-Color president and CEO Nigel Vinecombe said.

‘We recognize the Guidotti family’s success in building one of Europe’s premier label printers and greatly appreciate their decision to partner with MCC,’ Vinecombe said. ‘The Guidotti family will be significant shareholders in MCC.’ 

Guidotti will be part of Multi-Color’s Collotype Wine & Spirit Label division. 

Click here for more stories about Multi-Color on L&L.com.