USA: Montagu Private Equity has completed the acquisition of Kodak flexo business, a deal which is valued at USD 340-million.
The flexo division, though now a part of Montagu’s portfolio will be a standalone company, and will be known as Miraclon. Thus, Kodak’s flexographic leadership team
has transitioned as part of the deal and will continue to directly manage this business.
Miraclon’s offering comprises of the development, manufacture and sale of flexo machinery and products, will include Kodak’s flagship Flexcel NX system.
Over the past five years, FPD has grown and thrived within Kodak and has become a significant player in the package printing industry.
Jim Continenza, executive chairman of Kodak, said, “Closing this sale was a priority for Kodak, and I’m proud we were able to execute on this plan and leverage a homegrown asset. This is one of many steps we are taking to increase our financial stability and focus on generating cash for our shareholders.”
Kodak remains committed to the print industry. Following this transaction, Kodak will continue to focus on the demonstrated growth areas of SONORA environmental plates, enterprise inkjet, workflow software and brand licensing.