Multi-Color Corporation ("MCC") and Hexagon Holdings (“Hexagon”) have jointly announced that the parties have signed a binding Sale and Purchase Agreement whereby MCC will acquire 100 percent of the shares in Hexagon.
The acquisition includes Hexagon subsidiaries Hally Labels AU, Label Partners AU, Adhesif Labels NZ, Hally Labels NZ, Kiwi Labels NZ & Rapid Labels NZ.
The transaction will complete when FIRB (AU) & OIO (NZ) foreign investment regulatory approvals have been confirmed, likely in Q3 2021.
"Bringing these companies together creates an impressive Australasian network and clear market leadership in the region. We are delighted to be welcoming Hexagon’s staff, clients & suppliers to the MCC family,” said Nigel Vinecombe, CEO, Multi-Color Corporation.
Clark Perkins, Chairman, Hexagon Holdings, and that the company was proud to have established Hexagon and built its operations over the past eight years to be the leading manufacturer of self-adhesive labels in Australasia.
“The MCC and Hexagon businesses are highly complementary, and we can see many opportunities for the combined business in the Australian and New Zealand markets. Today’s announcement is the culmination of the efforts of all of our employees throughout our ownership and we are deeply grateful for their efforts.”
Because the acquisition is by way of a share sale, all existing arrangements with Hexagon employees, clients and suppliers will continue seamlessly.
MCC’s enlarged Australasian group will be led by Daren Hudson, MCC President for Australia and New Zealand. Hexagon CEO Greg Howell will assist across an agreed transitional period.
The companies would like to thank the advisors who have assisted with this transaction. For MCC those include Ernst & Young and Minter Ellison. For Hexagon they are Goldman Sachs, Deloitte and HHL.