MCC has entered into a binding agreement to acquire 100 percent ownership of the company for €8 million in cash. The closing is expected to take place early in October, and is expected to be immediately accretive to earnings for MCC.
Monroe Etiquette is centrally located in Montagny, near Lyon in France, and has annual revenues of about €7 million.
MCC President & CEO Nigel Vinecombe says, “Monroe Etiquette represents the ideal local entry into the French market and is very complementary to our recent acquisition of Guidotti CentroStampa in Italy. Stanislas Monroe and his team will continue to run the business based in Montagny. The quality of this business is second to none and will enhance the Collotype Wine & Spirit label division’s global leadership position.”
MCC, based in Sharonville, OH, USA, is one of the world’s largest label printers, specializing in the home and personal care, food and beverage, and wine and spirit markets. Annual revenues are more than $300 million, and the company has operations on four continents. A public company, it is listed as LABL on the Nasdaq.