No financial detailswere available although the Devon firm said the buyout would see its workforce expand to 36 – with annual turnover expected to increase to €5m in 2013.
Robert Lee, managing director at Tamar, told FoodProductionDaily.com Labelit’s product portfolio shared similarities with its own but also covered fresh segments that presented the chance for expansion.
“The takeover will give us exposure to bigger markets in Europe for food and confectionery,” he said. “It will also provide greater penetration into the beverage sector – particularly the high-end spirit market.”
Tamar said equipment included in the Labelit deal included three 8-colour Nilpeter UV flexo presses and a range of Omega finishing equipment and pre-press systems.
These would be added to own fleet of Edale narrow web flexo and HP Indigo digital label presses at the company’s British Retail Consortium/Institute of Packaging accredited production facility near Plymouth, England.
