SATO purchases Russian label manufacturer
By Canadian Packaging staffGeneral Coding & Labeling acquisition Label manufacturer Okil-Holding SATO
SATO acquires majority stake in leading Russian label manufacturer, Okil.
Tokyo—SATO, a global leader in barcode printing, labeling, and RFID (radio frequency identification) solutions, announced it has acquired a majority stake in Okil-Holding, JSC—approximately 75 percent of all shares issued.
Okil will now operate as a subsidiary within the SATO Group. This transaction was completed on December 19, 2014.
“Okil is recognized as a local market leader and fits perfectly into SATO’s strategic roadmap,” says SATO Holdings president and chief executive officer Kaz Matsuyama. “Our mid-term strategy is focused on achieving sustainable growth, while maximizing value for customers across the globe. This acquisition allows us to further solidify that strategy, establishing a foothold in Russia and strengthening our network within BRICS markets, which offer tremendous growth opportunity.”
Russia’s label market is expected to grow exponentially. The market has seen double digit growth since the late 2000s, with an average annual growth rate of 13 percent from the years 2009 to 2013. Okil is headquartered in Saint Petersburg, Russia and holds the top position in the country’s label market with a 15 per cent market share, recording US$54.5 million in sales in FY2013.
The company specializes in value-added product labels for the food and beverage, beauty and healthcare industries, and boasts a large customer base comprised of local companies and a variety of major multinational corporations.
“We are excited to be moving into 2015 with SATO,” sys OKIL founder and chief executive officer Denis Okulov. “Being part of the SATO Group will connect Okil to a wider global network, and allow us to deliver greater value to local customers through SATO’s diverse range of solutions.”
Founded in 1940, SATO is a pioneer and leading global provider of integrated Automatic Identification and Data Collection solutions. It has sales and support offices in over 20 countries and is represented globally through a world-class network of partners. For the fiscal year ended March 31, 2014, it reported revenues of JPY 96,773 million (US$ 966 million).
Company information can be found at www.satoworldwide.com.