“Okil fits perfectly into SATO’s strategic roadmap,” said Kaz Matsuyama, president/CEO, SATO Holdings.
“Our mid-term strategy is focused on achieving sustainable growth, while maximising value for customers across the globe. This acquisition allows us to further solidify that strategy, establishing a foothold in Russia and strengthening our network within BRICS markets, which offer tremendous growth opportunity.”
Russia’s label market is expected to grow exponentially. The market has seen double digit growth since the late 2000s, with an average annual growth rate of 13% from the years 2009 to 2013.
Okil is headquartered in Saint Petersburg, Russia and holds the top position in the country’s label market with a 15% market share, recording $54.5m in sales in FY2013.