Multi Packaging Solutions Enters into Letter of Intent to Acquire Paris Art Label Company, Inc.
March 22 2017 - 10:20AM
Business Wire
Multi Packaging Solutions International (NYSE:MPSX) (“MPS”), a
global leader in value-added print and packaging solutions for the
branded consumer, healthcare and multi-media markets announced
today that they have signed a letter of intent to acquire the
business of Paris Art Label Company, Inc. (“Paris Art”), subject to
standard completion of diligence steps and Board of Directors’
approval which is expected to be completed on or about March 31,
2017.
The acquisition of Paris Art, a highly respected manufacturer of
labels and shrink sleeve products to the branded consumer
marketplace in the United States, fits perfectly with MPS’s
previously announced strategy to expand its capability and presence
in the label sector globally.
Commenting on the acquisition, Marc Shore, CEO of MPS, said “We
look forward to the Paris Art team joining the MPS family as we
finalize our diligence steps and embark on the integration process.
Both companies share a common vision: to provide innovative
products of the highest quality to our customers. Acquiring Paris
Art is a significant step in enhancing our offering to our
customers and achieving our strategic goals.”
Ron Tarantino, president and owner of Paris Art stated, “We are
excited to announce the pending transaction which will be
beneficial to our customers, employees, vendors and associates. We
are proud of the high quality and innovative label and shrink print
packaging we have designed and delivered to leading consumer and
cosmetics customers for over 90 years and believe that MPS will be
an excellent home for our customers and employees. MPS is committed
to investing additional capital to continue to support the
operation. Additionally, I am pleased to say that I, and the Paris
Art management team, will be staying on with the new entity going
forward.”
About Multi Packaging Solutions
Multi Packaging Solutions (“MPS”) is a leading global provider
of value-added packaging solutions to a diverse customer base
across the healthcare and branded consumer markets. MPS provides
customers with an extensive array of print-based specialty
packaging, including premium folding cartons, labels,
inserts/leaflets, and specialty packaging across a variety of
substrates and finishes. The company has 60 manufacturing locations
in North America, Asia and Europe and employs approximately 8,800
people. MPS is listed on the New York Stock Exchange.
For more information, please visit www.multipkg.com.
About Paris Art Label Company
Established in 1925, Paris Art Label has pioneered innovative
solutions in the label and shrink sleeve markets. Providing
shelf-defining, cost effective, and sustainable packaging solutions
for the consumer branded sectors in the United States, Paris Art
Label operates from two locations in New York -- Patchogue and
Ronkonkoma.
For more information see http://www.parisartlabel.com
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Multi Packaging SolutionsRichard Zubek, 646-885-0165Investor
Relationsir@multipkg.com
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