CINCINNATI, Oct. 29 -- Multi-Color Corporation announced that it has purchased Premiere Labels, Inc. of Troy, Ohio. Premiere Labels is a leading manufacturer of award-winning, pressure sensitive labels used by consumer product companies worldwide. Both Multi-Color and Premiere recently received several printing awards for quality in the Tag and Label Manufacturer's Institute 24th Annual International award competition.
"We are extremely pleased to acquire such a well-known and respected manufacturer of technically demanding pressure sensitive label applications,'' said Frank Gerace, Multi-Color President and Chief Executive Officer. "As last week's quarterly earnings release indicated, we possess the financial strength to seek and acquire the strategic resources necessary to position our Company for continued growth and prosperity.''
Premiere Labels will bring technology and product offerings that compliment Multi-Color's Batavia, Ohio plant, which the Company acquired in the 4th quarter of 1999 to expand into the larger pressure sensitive label market. As the Batavia plant nears full production capacity, the acquisition of Premiere also allows Multi-Color to continue to grow its pressure sensitive line of business.
"As with all acquisitions we consider, we expect the addition of Premiere to be accretive to earnings immediately. Our common values surrounding quality and customer service will allow for a smooth integration as well,'' added Gerace.
Multi-Color plans to retain all employees and production facilities in Troy, Ohio.
"I am extremely impressed with the skills exhibited by the employees of Premiere,'' commented Gerace. "The quality products they produce for their impressive list of customers is indicative of the craftsmanship and attention to detail they possess.''
Mike Magel, spokesperson for Premiere Labels said, "We are pleased to become a part of the Multi-Color family. Multi-Color's strong sales and marketing coupled with broad product offerings will leverage Premiere's award winning reputation in the marketplace. This combination will prove to be extremely beneficial to Premiere's customers and employees. ''
This acquisition comes on the heals of Multi-Color's recent authorization of a 3 for 2 stock split and a quarterly earnings announcement that highlighted the Company's recent sales revenue increases due to growth in the pressure sensitive area.
Cincinnati, Ohio based Multi-Color Corporation is the premier supplier of specialty decorative labels and related services for technically demanding applications to consumer product companies and container manufacturers worldwide. Multi-Color is the leading producer of in-mold labels (IML) and specialty labels. Recent acquisitions have placed the Company into the high-end pressure sensitive and heat shrink label markets and tamper-evident neckband markets. The Company has four manufacturing operations in the United States. Its products are shipped to more than 40 locations in the U.S., Canada, Mexico, South America and Asia.
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