FLORENCE, Italy—Bobst Group and the owner of Nuova GIDUE S.r.L., an Italian manufacturer of narrow and mid web printing presses, have signed an agreement by which Bobst Group acquires 65 percent of GIDUE, with the option to purchase the remaining shares.
Federico d’Annunzio, 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.
GIDUE provides highly automated narrow and mid web inline flexographic and offset presses for the self adhesive labels industry and short run solutions for packaging converters. With the innovative technologies of GIDUE, Bobst will extend its already wide range of printing and converting solutions and the purchase confirms its strategy of expansion in the label industry.
Erik Bothorel, head of Bobst business unit web fed and member of the Group Executive Committee, said: “We want to grow in the label segment and establish our leadership in short run packaging solutions. The innovative technologies of Nuova GIDUE S.r.L. 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, GIDUE received the Global Label Award for innovation and earlier this month received the FTA Technical Innovation Award. Its digital flexo technologies are a major breakthrough in flexography and GIDUE is also a driving force in the REVO Team for the introduction of the 7-color separation standard in packaging.
On selling the majority stake, d’Annunzio 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 GIDUE’s existing management and employees at its location in Florence, Italy. Bothorel concludes: “We are impressed by the innovation, performance and product range of Nuova GIDUE S.r.L., 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.”