Print and packaging provider Multi Packaging Solutions International (MPS) has acquired Paris Art Label for an undisclosed price.
MPS had signed a letter of intent in March this year to acquire the American manufacturer of labels and shrink sleeve products for the branded consumer market.
The acquisition is in line with MPS' previously revealed strategy to expand its capability and footprint in the international label segment.
MPS CEO Marc Shore said: “We are delighted to welcome the Paris Art team into the MPS family. 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.”
Paris Art Label has been designing and delivering high quality and innovative label and shrink print packaging to consumer and cosmetic segments for more than 90 years, said the company’s president and owner Ron Tarantino.
Tarantino added: “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.”
Founded in 2005, MPS is a manufacturer of print-based specialty packaging for the healthcare, consumer and media end sectors.
The Virginia-headquartered company has 60 manufacturing sites across North America, Europe and Asia while employing nearly 9,000 people.
In late January, MPS had announced that it had reached a definitive agreement to be acquired by WestRock Company for $2.28bn which includes assumption of the former’s net debt of close to $900m.
The transaction is expected to be completed during the third quarter fiscal 2017 of WestRock.