Acquisitions · Materials (adhesive labels and films)
Lintec's Mactac buys label-material maker Duramark for about $61 million
- Buyer
- Lintec (via Mactac) (Tokyo)
- Target
- Duramark Products (formerly Ritrama USA), Moore, South Carolina
- Value
- About $61M (about ¥6.75B)
- Status
- Completed April 1, 2021.
- Date
- 2021-04-01
Lintec bought Duramark Products, a maker of adhesive label paper and films with plants in Moore, South Carolina, and Minneapolis, through Mactac, the US company it acquired in 2016. The price was about $61 million. Duramark had about 170 employees and new coating lines, which Mactac needed to add capacity.
Why it matters
It made Mactac one of the largest suppliers of pressure-sensitive materials in North America and added graphic films to its range.
A struggling business
Duramark was formerly called Ritrama USA. It had sales of about ¥7.96 billion but an operating loss of about ¥2.76 billion and negative net assets. Chief executive Lucio Siano said the sale would finally let the company make the most of the equipment it had bought in 2016; he stayed on in a strategic role.
Mactac's plan
Both plants were renamed under the Mactac brand. Mactac chief executive Ed LaForge said the purchase was one step in an expansion plan under way since 2020, and the company planned to add research, quality and production jobs at both sites. Lintec also hoped the deal would help its business in Japan and other regions.
Sources
Kakehashi M&A News home
