Bobst Group has acquired 65 per cent of the Italian manufacturer of narrow and mid-web printing presses, Nuova Gidue Srl.
The agreement also sees that Bobst has the option to purchase the remaining company shares. The owner of Nuova Gidue Srl will remain in the company as CEO and shareholder. Both parties have agreed not to disclose any information concerning the conditions of the transaction.
Nuova Gidue Srl provides highly automated narrow and mid-web in-line flexographic and offset presses for the self-adhesive labels industry and short-run solutions for packaging converters. BOBST will extend the company’s wide range of printing and converting solutions, and the purchase confirms its strategy of expansion in the label industry.
Erik Bothorel, head of Bobst business unit web-fed and member of the group executive committee, said: “We want to grow in the label segment and establish our leadership in short-run packaging solutions. The technologies of Nuova Gidue Srl in flexography and offset can be easily integrated into our existing product lines.
“BOBST today offers the widest range of printing and converting equipment for the packaging industry and confirms its commitment to innovation.”
In 2014 Nuova Gidue Srl received the Global Label Award for innovation and in May 2015 received the FTA (Flexographic Technical Association) award for innovation. Its digital flexo technologies are a major breakthrough in flexography and it is also a driving force in the REVO Team for the introduction of the seven-colour separation standard in packaging.
On selling the majority stake, Federico d’Annunzio, CEO of Nuova Gidue Srl, commented: “Bobst has a strong history and reputation, and a worldwide leadership position in the packaging market. We are proud to be part of a global organisation and to bring in our established presence in the label market, as well as the recognised Nuova Gidue culture of innovation. Our partners, customers, suppliers and employees will take great advantage from the long term plans of Bobst Group.”