Industry briefs: acquisitions and mergers
division for an undisclosed sum to become the world's secondlargest
manufacturer of packaging ink.
The two companies have consolidated total net sales of €613m in the packaging ink segment in a global market worth €4.4bn, Siegwerk said in a statement. Siegwerk would also become one of theworld's top five ink manufacturers with consolidated total net sales of €773 million euro in a €10.4bn market. SICPA will continue to operate its security ink and systems business out ofits headquarters in Lausanne, Switzerland while regulatory approval is sought.
Siegwerk is headquartered in Siegburg, near Cologne, Germany. The deal will be Siegwerk's second major acquisition in the printing ink industry this year. It follows the acquisition of the inkdivisions of BASF and ANI by investment company CVC Capital Partners, and their merger to form new company Xsys.
"The acquisition is a major step towards the group consolidating its worldwide presence and positioning as a global player," said Siegwerk's president and chief executive, HerbertForker. "We can now supply globally operating converters as well as national clients in every country in the world, and support them in application engineering. This also makes us aninteresting partner for the major brand companies."
Siegwerk's is already positioned in central and eastern Europe, North Africa, South East Asia, and the US, he said. SICPA's packaging ink division will complement the growth with a presence insouthern Europe, Turkey, Scandinavia and Russia, South Africa, Canada, Mexico, South America, China, India and Australia.
Siegwerk's expertise in film and foil printing, paper labels, and wallpaper printing will be expanded by SICPA's know how in tobacco packaging, foil labels and the corrugated board sector, Forkersaid.
Rosen to combine meat processing operations with American Foods Rosen's Diversified's meat processing operations will be combined with American Foods to create a new national food company, the American Foods Group, the two companies announced this week.
The new company, to be headquartered in Alexandria, Minnesota, will consist of all of American Foods Group, Inc. current operations, along with Rosen's meat processing companies. Rosen'sagricultural chemical distribution and fertiliser business units are not part of the agreement.
The companies expect the merger to close by late August. The combined total sales for the two companies last year amounted to $1.5bn. The terms of the agreement were not disclosed.
"This merger is all about opportunity and growth," the companies said in a statement. "Together as one company we can offer a wider variety of products and services to ourcustomers and provide more growth opportunity for our employees and their communities."
Rosen's meat processing plants employs 1,700 staff at plants located in Minnesota, South Dakota, Nebraska and Virginia. The Rosen Meat Group, Inc. includes Long Prairie Packing, Dakota PremiumFoods, Cimpl's, Gibbon Packing and Skylark Meats. Through its O'Brien's division and its recent acquisition of Knauss Snack Food operations, the company is also a branded and private label manufacturer of meat snacks.
