Bobst Acquires Majority Shares of Nuova Gidue
- Published: September 21, 2015
LAUSANNE, SWITZERLAND | Bobst Group has signed an agreement acquiring 65% of Nuova Gidue Srl, with the option to purchase the remaining shares. The owner of Nuova Gidue 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 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.
Erik Bothorel, head of Bobst Business Unit Web-fed and member of the Group Executive Committee, says, "We want to grow in the label segment and establish our leadership in short-run packaging solutions. The innovative technologies of Nuova Gidue Srl in flexography and offset can be easily integrated into our existing product lines."
In 2014 Nuova Gidue received the Global Label Award for innovation, and in May 2015 received the Flexographic Technical Association award for innovation. Reportedly, it is also a driving force in the REVO Team for the introduction of the seven-color separation standard in packaging.
Federico d'Annunzio, CEO of Nuova Gidue, says, "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 says it expects strong growth in the labels and packaging industries, and it plans to build on the expertise and dedication of Nuova Gidue’s existing management and employees at its location in Florence,Italy. Bothorel says, "We are impressed by the innovation, performance, and product range of Nuova Gidue, 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."
