Mercury Capital, private equity majority owner of the trans-Tasman Hexagon labels group has placed it on the market.

The business includes a number of sites across New Zealand and Australia including Adhesif Labels, Kiwi Labels, Market Labels, Panprint, and Rapid Labels as well as Hally Labels, which originally came from New Zealand.

According to the Australian Financial Review, Goldman Sachs has received instructions to sell the business, which could have a value of more than $300m.

Hexagon has grown under the guidance of chief executive Greg Howell, backed by majority owner Tom Sturgess, also behind the resurgent Blue Star. They have built the group into one of the biggest label businesses in the region.

Hexagon acquired Rapid Labels in 2012 and a year later gained Panprint through the purchase of Blue Star and Webstar. Kiwi Labels came from the demise of Geon. In 2015, Hexagon bought Hally Labels, which moved into a new purpose built site from where it launched its new Hally Express business, promising five-day turnaround on labels.

At this stage, Hexagon has released no comment on the possible sale

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