UPM Raflatac, one of the world’s leading suppliers of self-adhesive labelstock, has signed an agreement to acquire the business operations of GascogneLaminates Switzerland SA. The parties have agreed not to disclose the purchase price. The closing of the acquisition is subject to regulatory approvals.
Gascogne Laminates Switzerland is the labelstock business of Gascogne Group, a major player in the French wood industry. Gascogne’s labelstock operations’ sales totaled EUR 44 million in 2011. The company employs approximately 110 persons in its factory in Martigny, Switzerland.
“UPM Raflatac in Europe has focused in the past years especially in growth in special labelstockproducts. Gascogne Laminates has a strong and long-standing brand in this product area in Europe and through this acquisition we are proud to add those capabilities to our product platform. As a result of this transaction, customers will enjoy stronger speciality offering available through UPM Raflatac’s extensive distribution network,” says Tapio Kolunsarka, Senior Vice President, Europe, Middle-East and Africa.
“We are pleased to reach an agreement with UPM Raflatac, which is one of the leading and most respected players in the labelstock market. We strongly believe that the combination of UPM Raflatac and Gascogne’s labelstock operations will result in strong benefits for all stakeholders. I take this opportunity to thank the Gascogne Laminates Switzerland teams for their professionalism and loyal support over the years," says Frédéric Doulcet, CEO of the Gascogne Group.