Northern Ireland packaging company MSO Group has bought self-adhesive label printer Labelsco in Leicester.Dominic Walsh, chief executive of Belfast-based MSO Group, said Labelsco was "one of the best" self-adhesive labelling companies in the UK and a "superb fit" for his business.
"There has been a lot of consolidation in the print and packaging sector for negative reasons, but we are buying Labelsco in order to grow our business in the UK and Ireland," he said.
The label printer produces self-adhesive labels for a number of industries, including pharmaceuticals, food, household and DIY, horticulture, health and beauty, and automotive.
It employs 125 staff and reported a pre-tax profit of £335,000 on sales of £9.5m in the year to 31 March 2006.
Labelsco also won two World Label Awards last year for self-adhesive labels produced for Tesco and Charisma.
The acquisition is MSO Group's second in the labels sector following last year's purchase of Hannibal Labels, also based in Leicester, which is now part of MSO Cleland under managing director Noel Branagh.
MSO Group's turnover in the self-adhesive labelling sector is now around £23m. Overall group turnover is £55m.
The group also added carton printer Storey Evans in Bradford to its portfolio last year and later shut its Galloways packaging plant in Manchester as part of its strategy to streamline the business following the acquisition. At the time, Walsh said the firm was looking to make further acquisitions in other markets.
Bank of Ireland financed this latest purchase and said it represented an "excellent growth opportunity".
Source: packagingnews
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