Nashua Announces Acquisition of the Assets of The Label Company
Press release from the issuing company
NASHUA, N.H.--Feb. 10, 2003-- Nashua Corporation, a premier manufacturer and marketer of labels, thermal specialty papers and imaging products, today announced that it has acquired assets of The Label Company with a net book value of approximately $2 million from Bunzl Distribution and signed a multi-year agreement to supply Bunzl with label products.
The Label Company, located in St. Louis, has primarily been a supplier of supermarket, promotional and product identification labels for Bunzl. Financial terms of the cash transaction were not announced.
"This is an excellent addition to our current Label Products business which adds flexibility to our label manufacturing operations and enhances our relationship with Bunzl, a valued and long-standing customer. The acquisition also provides additional volume to the Company's coating facility and is expected to positively impact our overall business performance," said Andrew Albert, Nashua's Chairman and Chief Executive Officer.
Albert concluded, "The acquisition is consistent with our strategy to deliver increased shareholder value by strengthening our manufacturing and product capability and building long-term, mutually beneficial relationships with customers."
Nashua Corporation manufactures and markets a wide variety of specialty imaging products and services to industrial and commercial customers to meet various print application needs. The Company's products include thermal coated papers, pressure-sensitive labels, copier papers, bond, point-of-sale, ATM and wide format papers, entertainment tickets, as well as toners, developers and ribbons for use in imaging devices. Additional information about Nashua Corporation can be found at www.nashua.com.
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