Global consumables giant Flint Group has acquired digital solutions manufacturer Xeikon in a move that will see Xeikon’s products and services forming the foundation of a newly created division called Flint Group Digital Printing Solutions.
Antoine Fady, chief executive at Flint Group
Antoine Fady, chief executive of Flint Group, says, “This acquisition represents an excellent opportunity for Flint Group, propelling the organisation further into the digital solutions market, where we will continue to deliver on our long term strategy of driving growth through product innovation, focus on developing markets and portfolio expansion.
“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.”
Wim Maes, chief executive of Xeikon, will become president of Flint Group’s Digital Printing Solutions division. He says, “We are very pleased to be joining Flint Group’s global organisation and excited by the opportunities this acquisition presents to accelerate business growth. 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. 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.”
Xeikon has carved out a chunk of the global packaging and commercial printing markets with digital machines and consumables. Fady says, “Xeikon has 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.”
Wim Maes, Xeikon CEO and new president at Flint Group Digital Printing Solutions
Flint Group employs some 6800 people globally and reports revenues for 2014 of € 2.1bn ($3.41bn). It claims status as number one or number two supplier in every major market segment it serves. Maes adds, “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.”
The transaction remains subject to customary closing conditions, including approval by the competition authorities but should see completion by the end of the year.
