Bobst Group Acquires Majority of Nuova Gidue
Bobst Group and the owner of Nuova Gidue Srl, an Italian manufacturer of narrow and mid-web printing presses, signed an agreement on May 13, 2015 by which Bobst Group acquires 65 percent of Nuova Gidue Srl, with the option to purchase the remaining shares.
The owner of Nuova Gidue Srl will remain in the company as CEO and shareholder. Both parties have agreed not to disclose any information concerning the conditions of the transaction.
Nuova Gidue Srl provides highly automated narrow and mid-web in-line flexographic and offset presses for the self-adhesive labels industry and short-run solutions for packaging converters. With the innovative technologies of Nuova Gidue Srl, Bobst will extend its already wide range of printing and converting solutions and the purchase confirms its strategy of expansion in the label industry.
"We want to grow in the label segment and establish our leadership in short-run packaging solutions" said Erik Bothorel, head of Bobst Business Unit Web-fed and Member of the Group Executive Committee. "The innovative technologies of Nuova Gidue Srl in flexography and offset can be easily integrated into our existing product lines. Bobst today offers the widest range of printing and converting equipment for the packaging industry and confirms its commitment to innovation."
In 2014 Nuova Gidue Srl received the Global Label Award for innovation and in May 2015 received the FTA (Flexographic Technical Association) award for innovation. Its digital flexo technologies are a major breakthrough in flexography and Nuova Gidue Srl is also a driving force in the REVO Team for the introduction of the seven-color separation standard in packaging.
On selling the majority stake, Federico d'Annunzio, CEO of Nuova Gidue Srl, commented: "Bobst has a strong history and reputation, and a worldwide leadership position in the packaging market. We are proud to be part of a global organization and to bring in our established presence in the label market, as well as the recognized Nuova Gidue culture of innovation. Our partners, customers, suppliers and employees will take great advantage from the long term plans of Bobst Group."
Bobst Group expects strong growth in the labels and packaging industries, and plans to build on the expertise and dedication of Nuova Gidue’s existing management and employees at its location in Florence, Italy.
"We are impressed by the innovation, performance and product range of Nuova Gidue Srl, which enlarges the product portfolio of Bobst Group in the narrow and mid-web market. We believe it is the perfect match, at the perfect moment," Bothorel.
