LUXEMBOURG - The Flint Group, a global solutions provider to the packaging and print media industries, signed an agreement to acquire Torda, a manufacturer of printing inks for the packaging markets in northern Europe, the Balkans and the Middle East with a substantial presence in Eastern Europe. Torda generated revenues of approximately EUR 23 million in 2009.
This acquisition is the third step Flint Group has taken within the last 12 months to foster its expansion in Eastern European markets. In 2009, Flint Group acquired the Russian packaging ink manufacturer and distributor Premo Inks. In January 2010, Flint Group announced the expansion of its packaging inks manufacturing operations in Poland.
The transaction is expected to close by the end of March 2010, subject to the approval of the antitrust authorities. Financial terms have not been disclosed.