Ettiketto Group consolidates the Norwegian labels market
Ettiketto Group has completed the acquisition of all shares in the label producer Skipnes Etikett AS. The acquisition strengthens Ettiketto Group’s market position in Norway, with Skipnes and Ettiketto AS together becoming one of the country’s leading label producers. The acquisition creates further value through synergies that will improve Ettiketto Group’s profitability. Skipnes reported sales of SEK 72 million in 2020.
The acquisition of Skipnes is Ettiketto Group’s fifth acquisition since 2020. Ettiketto Group has a strong position in the Nordic region and has increased its annual sales from approximately SEK 250 million in June 2020 to approximately SEK 850 million as a result of acquisitions.
“Ettiketto Group continues to grow through acquisitions and the fact that we are a safe and stable buyer. We are very pleased at the opportunity to acquire Skipnes. The acquisition of StrongPoint’s labels business last year was a strategically important entry into Norway and we are now strengthening our position there, which is in line with Ettiketto Group’s growth strategy in the Nordic region,” says Nicklas Margård, Head of Business Area Industry.
Skipnes produces self-adhesive labels for both food and industrial products. The company works with flexo and digital printing, and has invested heavily in new technology and upgraded machinery over the last three years. Skipnes is located in Trondheim and has 26 employees.
“It gives us great pleasure to welcome Skipnes to Ettiketto Group. The company has a broad product portfolio that complements Ettiketto Group’s existing customer offering and modern machinery that strengthens our production capacity. As with our previous acquisitions, there are clear synergies and we see good opportunities to significantly increase profitability over time by integrating our existing Norwegian business with Skipnes. The acquisition creates a Norwegian unit with good conditions for continued high growth,” says Ettiketto Group CEO Rikard Ahlin.