Shareholders at Daventry label manufacturer Multi Labels have approved the sale of the business to MCC Scotland Holdings Limited.
The deal, which was given the seal of approval by shareholders earlier this month, sees the self-adhesive label manufacturer taken over by MCC Scotland Holdings Limited, one of a number of subsidiaries owned by the Multi-Colour Corporation, while providing a full exit for the founding shareholders. The current management team will continue to manage the business, which currently employs 80 people in Daventry .
Founded in 1987, Multi Labels produces labels for global, regional and local drinks brands such as Thatchers Cider and Camden Hells Lager, with annual revenues of approximately £10m.
The deal sees Multi Labels joining one of the largest global label companies with annual sales in excess of $850m and operations in five continents.
Multi-Color Corporation was established in 1916 and has headquarters in Batavia, Ohio.
The corporation is NASDAQ-listed and its group’s wine and spirit market is serviced by group company Collotype Labels, which was established in 1903 in Adelaide, South Australia and is now one of the world’s largest pressure sensitive wine and spirit label printers.
Commercial law firm EMW advised Multi Label’s shareholders on the sale of the business.
Ian Morris, chairman at EMW, said: “We are very pleased to have assisted the shareholders of Daventry-based Multi Labels Limited on a very tight time-frame transaction, which resulted in the successful sale of their business in the first few days of 2015.”
EMW has 34 principals and 81 fee-earners and has offices in London and Milton Keynes.
Its practice covers corporate law, including cross border corporate transactions, banking and finance (including international financial services); asset based lending; insolvency and restructuring, property, planning and construction; employment; technology and commerce; litigation and dispute resolution.