Acrus-CCL based in Santiago is a joint venture between CCL and a newly created Chilean investment holding company, which has two groups of shareholders: Mitchell Kendall and David Goodman, both veterans of the label industry as former principals of Cameo Crafts Graphic Industries; and Jose Mingo, Aldo Gonzalez and members of the Marinetti family, who have a long history in packaging and the wine and spirits market in Chile. CCL and its partner will each have a 50% interest in Acrus-CCL.
The partners will initially invest approximately $10m between them, financed by a combination of debt and equity, to create a state-of-the-art label production plant in Santiago dedicated to the wine industry.
CCL’s initial equity investment of $2m will be matched by its joint venture partner. Acrus-CCL will eventually expand its presence in the wine and spirits market to other Spanish speaking countries in the Mercusor trading zone.
Aldo Gonzalez, general manager Acrus-CCL, said: “We are excited to bring new leading edge supply chain and label converting technologies to the very specific needs of Chilean wine exporters.
“We have a highly experienced local management team that knows the wine industry intimately, supported by the technologies and global leverage of the world’s largest label company. I believe such a powerful combination will bring many benefits to our customers in Chile.”
Source: CCL Industries
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