Label group Asteria boosts European footprint with Ezquerro and Pro Print deals
As part of its European expansion strategy, Belgian packaging and labelling group Asteria has acquired Ezquerro, a Spanish producer of printed and self-adhesive labels. The purchase price was not disclosed, De Tijd reported on Tuesday.
The deal adds a third site in Spain to Asteria’s existing plants in Valencia and Galicia. “We are now close to achieving a leadership position in Spain,” said chief executive Yves Declerck. Ezquerro is one of the largest transactions among the many takeovers the group has made in recent years.
Buy-and-build strategy
Asteria employs over 2,300 people in 40 factories spanning from Finland to Ireland and supplies more than 20 billion labels to small and medium-sized companies each year.
Founded in 1985 as Accent, the business was transformed under Declerck's leadership and with the backing of the Dutch private equity firm Waterland, which specialises in buy-and-build strategies, into a European platform.
The group is also consolidating its position in existing markets. Last week, it acquired Pro Print Group, a UK specialist in self-adhesive labels and carton packaging — its fourth British deal. This acquisition is expected to generate an additional estimated 22.4 million pounds (26 million euros) in annual turnover.
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