MCC Verstraete acquires Australian IML manufacturer
The growth story of MCC Verstraete now has a new chapter down under, in far-off Australia. The Maldegem-based producer of in mould labels (IML) for plastic packaging is taking over IML producer Herrods, thereby strengthening its position as world market leader in IML. In mould labels are labels which are fused with a plastic packaging; this creates a mono-material packaging which is perfectly recyclable - examples are margarine tubs or boxes for ice cream.
The in mould label market continues to grow worldwide and both Verstraete and Herrods are known as innovative players in the market. "Thanks to continuous investments in the employees, business processes and technology, Herrods has been a steady partner of local and international brands for many years. Investments are currently being made in a third printing press to keep up with the increasing demand for IML products," explains Peter Grugeon, Managing Director of MCC Verstraete.
Further growth in Asia, Australia and New Zealand
To strengthen its market position abroad, MCC Verstraete already established a production unit in Batavia, Ohio (US) in 2018. The company employs 64 people there and is seeing capacity growth. The acquisition of Herrods now also consolidates its position in Asia, Australia and New Zealand:
'The additional capacity and proximity to the market will help us to supply existing but also new customers in Australia and New Zealand better and faster and also allows us to further expand our position in Asia through intense cooperation.
Peter Grugeon, Managing Director
"We are therefore very pleased with this important milestone for both Herrods and MCC Verstraete."
Also at Herrods only positive sounds: "MCC Verstraete is the partner of choice for large and small players in the market and a leader in innovation and sustainability," says Justin Bennett, Managing Director of Herrods. "Joining forces opens up new opportunities for local and international growth; while still allowing us to retain our individuality."
Integration that leaves room for individuality
Herrods IML is based in Melbourne, was founded in 1963 and has 69 employees. An integration project will be launched in the coming weeks to make the merger of the two companies as smooth as possible. The Herrods company name will be retained in the process. Financial details of the acquisition will not be released.