Esko to fuse with Artwork Systems to create pre-production behemoth

Esko and Artwork Systems are set to strengthen their market leadership in packaging pre-production technology by combining their operations.

Esko has reached an agreement with the three principal shareholders of Artwork to pay £7.70 (€11.50) a share for their stakes, representing a 77% holding in the company.

Artwork founder and chairman Guido Van der Schueren said the combination of the two companies would lead to "significant growth" for customers and employees alike.

Esko chief executive officer Carsten Knudsen called the acquisition a "milestone" that would create "new and exiting opportunities" for collaboration.

Esko, which is owned by Danish private equity firm Axcel, will launch a mandatory public offer for all outstanding Artwork shares when it obtains a majority stake.

The deal with Van der Schueren and co-founders Bart and Peter Denoo is due to be completed by 9 August.

The combined company will have almost 1,000 staff and revenues in excess of £120m.
Source: packagingnews