SATO has taken a majority stake in Russia-based Okil-Holding, JSC, acquiring approximately 75% of all shares issued.
This transaction was completed on December 19, 2014, and Okil will now operate as a subsidiary within the SATO Group.
“Our mid-term strategy is focused on achieving sustainable growth, while maximizing value for customers across the globe,” says Kaz Matsuyama, President and CEO.
“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 has seen double digit growth since the late 2000s, with an average annual growth rate of 13% 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% 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.