MCC has entered into a binding agreement to acquire 100% ownership of La Cromografica for a purchase price of approximately €8.3m, payable in cash with an expected closing on 1 April 2011.
Located in the heart of Tuscany in Florence, Italy, La Cromografica specialises in high quality wine labels for Italian premium wines. The company’s revenues were approximately $11m in 2010 with profitability consistent with MCC’s other wine label printing operations. The acquisition is expected to be immediately accretive.
La Cromografica’s management and team will continue to run the business from their current Florence location, with general manager Marco Caciotti reporting to European president Andrea Guidotti.
Source: Multi-Color Corporation
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