Bobst Group has entered into an agreement with the Nuova Gidue, an Italian manufacturer of label printing presses, in order to acquire a majority stake of 65% in the Italian company.
Bobst said that it expects strong growth in the labels and packaging industries and plans to build on the expertise and dedication of Nuova Gidue’s existing management and employees at its location in Florence, Italy.
Erik Bothorel, Head, Bobst Business Unit Web-fed, said, “We want to grow in the label segment and establish our leadership in short-run packaging solutions. The innovative technologies of Nuova Gidue in flexography and offset can be easily integrated into our existing product lines.”
Federico d’Annunzio, CEO, Nuova Gidue, commented, “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 recognised Nuova Gidue culture of innovation. Our partners, customers, suppliers and employees will take great advantage from the long term plans of Bobst Group.”
Both parties have agreed not to disclose any information concerning the conditions of the transaction.