Multi-Color Corporation Announces Completion of Sale of Packaging Service Division - Quick Pak
CINCINNATI, July 2 -- Multi-Color Corporation (NASDAQ:LABL) and NFI, announced today that they completed the $19.2 million sale of Quick Pak, Multi-Color's Packaging Services Division, to NFI. Quick Pak is a leading provider of high volume promotional, packaging, custom assembly, and turnkey project management for major health and beauty brands, consumer product manufacturers and national retailers. Quick Pak employs approximately 100 associates at its manufacturing facility in Sharonville, Ohio, a suburb of Cincinnati.
Multi-Color President and CEO Frank Gerace said, "We thank our associates at Quick Pak for their years of dedication to Multi-Color, their commitment to excellence and their exceptional, award winning service to our customers. We are very pleased to have NFI continue to build the Quick Pak business. This transaction allows Multi-Color to focus on its core label business where many strategic opportunities exist, including emerging technologies and domestic and international acquisitions."
Joe Roeder, President of NFI said, "NFI does not anticipate significant changes in Quick Pak's operations. We expect Quick Pak will become a very important contributor to the success of NFI going forward."
BMO Capital Markets acted as exclusive financial advisor to Multi-Color in this transaction.
About Multi-Color (http://www.multicolorcorp.com/)
Cincinnati, Ohio based Multi-Color Corporation is a premier global resource of innovative decorating solutions and packaging services to consumer product and food and beverage companies, national retailers and container manufacturers worldwide. Multi-Color is one of the world's largest producers of in-mold labels (IMLs) and heat transfer labels (HTLs), and a major manufacturer of high-quality cut-and-stack and pressure sensitive labels and shrink sleeves. Multi-Color has nine manufacturing locations in the United States. Its products are shipped to more than 650 customers in the United States, Canada, Mexico, and Central and South America.
About NFI (http://www.nfiindustries.com/)
The NFI family of companies include: NFI National Freight - OTR and dedicated transportation and expedited and premium intermodal railroad services; NFI National Distribution Centers - distribution and warehousing services; NFI Interactive Logistics - transportation management, dedicated fleets, logistic services to include global freight forwarding and brokerage; NFI Real Estate - construction and real estate. Together, the NFI organization maintains over 125 locations, 14.5 million square feet of warehouse space, 5,000 employees, 3000 tractors and 8000 trailers, and is approaching $800 million in annualized revenues.
Source: Multi-Color Corporation
CONTACT: Dawn H. Bertsche, Chief Financial Officer of Multi-Color Corporation, +1-513-345-1108, or Kim Eggers, Marketing Director of NFI, +1-856-470-2717
Web site: www.multicolorcorp.com/
http://www.nfiindustries.com/
