Flint Group has announced its acquisition of Xeikon, which will form the core of the new Flint Group Digital Printing Solutions division.
Headquartered in Eede in the Netherlands, and with operations in Belgium, Xeikon, designs, develops and delivers digital colour presses and consumables for commercial print and for labels and packaging.
Through the takeover, announced on 20 November, Flint Group aims to offer “a unique proposition of equipment, consumables and services across its global markets”.
Flint CEO Antoine Fady said the acquisition will propel the group “further into the digital solutions market“, where it will focus on “developing markets and portfolio expansion”.
“Xeikon have a proven history of delivering exceptional value through high-quality, high-productivity, innovative and sustainable solutions for their customers, which fits seamlessly with our own long-term vision for our business,” he said.
“I am also delighted to welcome the customers and employees of Xeikon to Flint Group and look forward to supporting them and building on their continued success.”
Xeikon CEO Wim Maes will become president of the new division.
“Xeikon has shown that dedication to the digital label, folding carton, commercial and document printing market segments has paid off in terms of market share, customer satisfaction and financial contribution,” said Maes.
“This next chapter in our more than 20-year existence opens many opportunities for Xeikon as a company, as well as for our customers, employees, partners and stakeholders.”
He added that Flint Group has developed “strong relationships with many leading global organisations within the graphic arts and packaging markets”.
“Our shared goal of delivering exceptional value, unparalleled service, consistent quality and continuous innovation is only enhanced by Flint Group’s reputation, knowledge, infrastructure and support,” he said.
The transaction is expected to complete by end of 2015.
Headquartered in Luxembourg, Flint Group employs about 6,800 people. In 2014, its revenues totalled EUR2.1bn.