The acquisition expands MCC's in-mold labeling network and creates a new foothold to complement its position in the European, Middle Eastern, African and Asian markets. Enrico Corsini to continue running the business under the MCC Korsini brand.
CHICAGO and IZMIR, Türkiye, April 6, 2023 /PRNewswire/ -- Multi-Color Corporation (MCC), one of the world's largest label companies, is pleased to announce the acquisition of Türkiye-based Korsini, a leading provider of in-mold label (IML) solutions. The financial terms of the transaction were not disclosed.
IML is a high-growth labeling technology in which pre-printed labels are inserted into a packaging mold during the container manufacturing process, creating a fully recyclable, cost-effective, durable and consistent product.
"We strongly believe in the potential of IML technology, and Korsini has proven over the past decades to be a strong and innovative company at the forefront of the continued development of IML solutions," said Kevin Kwilinski, CEO of MCC. "With a long legacy in the printing industry, the Corsini family and the Korozo group have made significant strides in the IML market. Korsini is the perfect partner for us to further develop IML as a premium label solution."
Korsini, originally founded as Fratelli Corsini in 1902, grew rapidly after its merger with the Korozo group as one of the co-leaders in the IML market. With continued investments in its people, processes and technology, the business is a key addition to MCC in offering global IML solutions.
"Joining forces with Korsini will spark new innovations and allow us to offer our customers even better service and products. We are truly excited and look forward to continuing the journey together," added Peter Grugeon, IML Global President.
"MCC is the preferred partner for brands large and small looking to build brand equity and a leader in the production of innovative and sustainable premium labels," said Enrico Corsini. "Joining forces with MCC will open up new opportunities for local and international growth, while allowing us to maintain day-to-day control of our operations. We will continue to offer the high standards of quality and customer service that our customers have come to expect."
About Multi-Color Corporation
Multi-Color Corporation (MCC), established in 1916, is the world leader in premium label solutions, with approximately $3.5 billion in annual revenue supporting several of the world's leading brands in end categories including food and beverages, home and personal care, wines and spirits, and other specialties. Headquartered in Chicago, MCC serves national and international brand owners throughout their global presence with a wide range of the latest label technologies in heat transfer, self-adhesive, cut and stack, roll-fed, in-mold applications. MCC employs approximately 14,000 associates at more than 100 plants in 31 countries. For additional information on Multi-Color Corporation, visit www.mcclabel.com.
Acerca de Corsini
Korsini was founded in 2004 as a joint venture between the Korozo Group and the Korsini Packaging Companies, which is the legacy of the printing business that the Corsini brothers started in 1902 under the name "Fratelli Corsini". Today it is one of the leaders in the IML market, with two production sites in West Türkiye and a global sales network. With approximately 400 associates, they have proven to be a world class IML label solutions provider. For more information about Korsini, visit www.korsini.com.
Contact for Multi-Color Corporation:Yasmeen BanoVice President and Global Head of Corporate Development firstname.lastname@example.org
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