Fuji Seal International has announced the takeover of Pago Holdings for €101m (CHF 121m) as part of a strategy to broaden its product portfolio to become a ‘total packaging’ supplier.
The Japan-based company, which specialises in shrink sleeves and sleeving equipment, said it had reached an agreement for the acquisition of self-adhesive label and labeling systems manufacturer Pago last week.
The deal is expected to be completed by 1 July, 2012. Major shareholders in privately-owned Pago are the Saluz family, which holds a 98％stake. Pago Holdings has a 1.2％share while the Pago management has 0.8％.
Headquartered in Grabs, Switzerland, Pago employs 955 workers at two large Swiss and German sites, plus branches in other European countries. Its range of products includes labels, sleeves, and the techniques and software for labeling and marking.
The firm serves the food, beverage and logistics sectors, as well as the pharmaceutical, body and hair care segments.
Self-adhesive label entry
Fuji Seal, headquartered in Yodogawa, Osaka, said it had taken over the company to accelerate its “global operations” in packaging and diversify its portfolio.
“To always be the customer’s first choice as partner, we provide differentiated products and services by comprehending customers’ needs for packaging,” it said.
The firm added: “Fuji Seal Group (FSG) announced its new Mid-Term Plan with management goals to increase corporate value of FSG through continuous development of business. In order to achieve this plan and as ‘total packaging company’ we have tackled challenges and implemented speedy operations and deployment in the global markets including self-adhesive label business.”
Listed on the Tokyo Stock Exchange, FSG currently operates over 20 branches in Japan, in southeast Asia, Europe and North and Central America and Central. Its global workforce reaches around 2,500.
It produces shrink sleeves, labels and in-mold as well as primary packaging such as spouted pouches.