"Will complement our existing business and enhance global presence."
Cosmo Films Ltd., based in Delhi, India, has acquired the GBC Commercial Print Finishing business of ACCO Brands Corporation. GBC manufactures and sells thermal-laminating films, laminators, and other finishing equipment and supplies. The acquisition is expected to close late in the second quarter of this year.
Cosmo Films makes BOPP and thermal-lamination films and has global sales of $140 million, the company reports. 'The deal with GBC Commercial print finishing business will complement our existing business and enhance global presence,' says Ashok Jaipuria, Cosmo Films chairman. 'By maximizing the strengths of both organizations we will have a vertically integrated, financially robust organization with broad management, sales and technical expertise."
ACCO's commercial print finishing business, with approximately $100 million in revenue, was placed into discontinued operations in the fourth fiscal quarter ended December 31, 2008, the company reports.