Bobst Acquires Majority Stake in Italian Printing Manufacturer
Bobst Group has reached an agreement with Nuova Gidue Srl, an Italian manufacturer of narrow and mid-web printing presses, by which Bobst will acquire 65 percent of the company. The agreement also leaves Bobst Group with the option of purchasing the remaining Nuova Gidue Srl shares.
Both parties have agreed not to disclose any information concerning the conditions of the transaction.
Nuova Gidue Srl provides highly automated narrow and mid-web in-line flexographic and offset presses for the self-adhesive labels industry and short-run solutions for packaging converters. With the innovative technologies of Nuova Gidue Srl, Bobst will extend its already wide range of printing and converting solutions. The purchase confirms its strategy of expansion in the label industry.
"We want to grow in the label segment and establish our leadership in short-run packaging solutions, says Erik Bothorel, head of Bobst business unit web-fed. “The innovative technologies of Nuova Gidue Srl in flexography and offset can be easily integrated into our existing product lines. Bobst today offers the widest range of printing and converting equipment for the packaging industry and confirms its commitment to innovation."
In 2014 Nuova Gidue Srl received the Global Label Award for innovation and in May 2015 received the FTA (Flexographic Technical Association) award for innovation. Its digital flexo technologies are a major breakthrough in flexography and Nuova Gidue Srl is also a driving force in the REVO Team for the introduction of the seven-color separation standard in packaging.
"Bobst has a strong history and reputation, and a worldwide leadership position in the packaging market,” says Federico d'Annunzio, CEO of Nuova Gidue Srl. “We are proud to be part of a global organization and to bring in our established presence in the label market, as well as the recognized Nuova Gidue culture of innovation. Our partners, customers, suppliers and employees will take great advantage from the long term plans of Bobst Group."
Nuova Gidue Srl