Multi-Color Corporation Acquires Australian Label Manufacturer Herrods

CINCINNATI and MELBOURNE, Australia, March 31, 2021 /PRNewswire/ -- Multi-Color Corporation, one of the largest label companies in the world, today announced the acquisition of Melbourne, Australia-based Herrods, a leading provider of in-mold label (IML) solutions in Australia and New Zealand. Financial terms of the transaction were not disclosed.

IML is a high-growth labeling technology in which pre-printed labels are inserted into a packaging mold during a container's manufacturing process, creating a fully recyclable, cost-effective, durable and consistent product.

"IML solutions are in high demand globally and Herrods is one of the best, most innovative providers in the industry," said Multi-Color Corporation CEO Nigel Vinecombe. "For more than 50 years, the company has continually invested in its people, processes and technology, making it a trusted partner to a wide range of local and international brands."

Herrods, which was founded in 1963, is currently investing to expand its footprint in order to satisfy increased demand.

"Herrods' additional capacity will help both companies better serve new and existing customers in Australia and New Zealand, and will allow us to leverage MCC's global sales team to pursue growth opportunities in Asia," Mr. Vinecombe added.

Following the acquisition, Herrods will continue operating under its existing brand with the same leadership team.

"MCC is the preferred partner for large and small brands seeking to build brand equity, and a leader in producing innovative and sustainable premium labels," said Herrods Managing Director Justin Bennett. "Joining forces with MCC will open up new opportunities for local and international growth, while allowing us to retain day-to-day control of our operations. We'll continue delivering the high standards of quality and customer service our clients expect."

MCC is a portfolio company of Platinum Equity, which acquired the business in 2019 and combined it with WS Packaging, another US-based labelling company in Platinum Equity's portfolio.

"With Platinum's support, we will continue pursuing additional growth and expansion both organically and through new M&A activity," said Mr. Vinecombe.

MinterEllison provided legal counsel to Multi-Color Corporation on the acquisition of Herrods.

Harris Carlson Lawyers provided legal counsel to the outgoing shareholders of Herrods.

About Multi-Color Corporation

Cincinnati, Ohio, U.S.A. based Multi-Color Corporation (MCC), established in 1916, is a leader in global label solutions supporting a number of the world's most prominent brands including leading producers of Beverage, Wine & Spirits, Food & Dairy, Personal Care & Beauty, Home Care & Laundry, Healthcare, Durables & Technical and Automotive & Chemicals. MCC serves national and international brand owners in North, Central and South America, Europe, Africa, China, Southeast Asia, Australia and New Zealand with a comprehensive range of the latest label technologies in Pressure Sensitive, Cut and Stack, Wraps, Aluminum, In-Mold, Shrink Sleeve and Heat Transfer. MCC employs over 9,000 associates across over 70 label producing operations globally.

For additional information on Multi-Color Corporation, please visit http://www.mcclabel.com.

About Herrods

Australia-based Herrods, founded in 1963, is a leading provider of IML solutions in Australia and New Zealand. With state-of-the-art Pre Press, Printing, Rotary Die Cutting and Automated Blanking technology, Herrods is one of only a few printers in the world that produces IML exclusively in both conventional and UV inks. Herrods' IML solutions are tailored to the specific and unique requirements of clients, industries and products across Australia and New Zealand. Herrods employs approximately 100 staff across its 3 commercial printing sites in Melbourne, Australia.

For additional information on Herrods, please visit http://www.herrods.com.au.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 300 acquisitions.

Contacts

SOURCE Multi-Color Corporation