American Inks and Coatings (AIC) has signed a definitive agreement to acquire Color Resolutions International (CRI) through an asset purchase arrangement. The merger will be consummated on or before Jan. 30, 2014.
AIC, founded by Jerry Mosley, is noted for its strong presence in the flexible packaging industry, supplying rotogravure and flexographic inks and coatings to both large and independent companies. AIC has had some presence in the corrugated industry with the 2012 acquisition of Graphic Sciences, and now with the acquisition of CRI, AIC will be the largest supplier to the merchant corrugated market in the US.
CRI has established a strong brand in the growing fine graphics niche of the corrugated market, and by its estimate supplies more independent corrugated converters than any of its competitor. CRI will operate as a subsidiary of AIC, and will continue to market to specialty converters whom aspire to produce lithographic type quality for value added packaging.
CRI will continue to be led by George Sickinger, the current CEO and founder of CRI.
”This is a great move for the people of CRI and for me personally,” Sickinger says. “Since I am planning to retire within the next few years, the merger provides an orderly succession plan and career opportunities for our associates.”
“The combined size of the two companies will bring more resources and a wider range of products to serve the U.S. packaging industry,” Mosley says. “With the merger, the combined companies are well positioned to focus on the changing needs of both the flexible packaging and corrugated market as they continue to consolidate.”