Nordvalls acquires Figosystem

Nordvalls has acquired Figosystem, a pressure sensitive labeling business located in Kungälv, north of Gothenburg, Sweden. The sale was completed on 28 September 2012.

The acquisition increases Nordvalls’ turnover to nearly SEK 300 million and broadens the product profile and geographic coverage for the joint business, creating ‘a leading Swedish and international labeling player’.

‘We are very pleased with the acquisition which is part of our growth strategy. Figosystem complements Nordvalls very well both from a product perspective as well as geographically. The companies have several similarities both in their history and in operations and will fit well together,’ said Patrik Jenemark, CEO, Nordvalls.

Magnus Olsson, current CEO at Figosystem and new head of marketing at Nordvalls, said: ‘We have during the past 25 years developed Figosystem to become one of the leading labeling printing businesses in Sweden and it has been a very exciting journey. We now see Nordvalls as a natural buyer to Figosystem as we stand in front of a new phase in the development. The industry is currently facing a structural change where new labeling printing groups are formed. Nordvalls is today one of the most established and well regarded companies in the industry and we see several similarities between the companies. Nordvalls is a profitable and well invested company and we complement each other very well. I will also personally get the opportunity to actively participate in the operation with new opportunities in Sweden and in northern Europe.’

Figosystem has sales of SEK 80 million and is a family company with nearly 50 years of experience of labeling production. The company was founded by Sture Olsson and now led his son, P. Magnus Olsson.

Pictured: (L-R) P. Magnus Olsson, Figosystem, and Patrik Jenemark, CEO, Nordvalls

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