Fort Dearborn and Multi-Color Corp. to merge into $3-billion global label maker
Funds managed by Clayton Dubilier & Rice will acquire and combine leading printer / converters Fort Dearborn and Multi-Color Corp, to create the world’s largest label manufacturing company serving customers worldwide. The CD&R funds are acquiring Fort Dearborn and MCC from global private-equity investors Advent International and Platinum Equity, respectively. Terms of the deal were not disclosed.
The combination of Fort Dearborn and MCC will create a diversified platform across label technologies, end categories, geographies and customers. It will serve a diverse mix of customers active in a number of end categories, including wine and spirits, food and beverage, beer, and home and personal care. The combined company is expected to generate approximately $3 billion of annual revenue. The merger is planned to be complete by the end of 2021.
David Scheible, Operating Advisor to CD&R funds, will serve as Chairman of the combined company. He is the former Chairman and CEO of Graphic Packaging and currently serves on the Fort Dearborn Board of Directors.
“We believe the growth opportunities that this combination and new investment partnership with CD&R present will greatly benefit our customers, suppliers, and employees alike,” says Kevin Kwilinski, president/CEO of Fort Dearborn. “We believe MCC’s global footprint and CD&R’s experience helping industrial companies enhance operational execution and achieve global scale and growth will benefit the combined enterprise. We appreciate Advent International’s partnership over the last five years in helping us drive commercial and supply chain excellence, build scale and reach attractive new end categories. As we enter this next chapter, we look forward to delivering an even greater variety of solutions to our customers throughout the world and enabling opportunities for our employees as part of a larger, more global organization.”
“At MCC, we have continually worked to invest in our people, processes and technology in order to strengthen our organization and become one of the most trusted and innovative label manufacturing leaders across the globe,” adds Nigel Vinecombe, CEO of MCC. “This combination with Fort Dearborn and the ongoing support of value-added investors provide the opportunity to continue to strengthen the business, invest in the expansion of our global footprint, and provide best-in class service to our customers.”