Packaging

United Labels acquires majority of joint venture

Monday 02. June 2014 - Ownership interest raised from 50% to 90%

Hello Kitty licence business to be expanded domestically and internationally in the area of clothing
United Labels AG (ISIN: DE 0005489561), a company specialising in comicware sold under licence, has acquired a further 40% interest in Open Mark United Labels GmbH, a successful 50/50 joint venture in which the company had already been involved prior to this transaction.
The business model of this enterprise, which was established in 2011, includes the manufacture of women’s and girls’ clothing under the Hello Kitty licence, with products being marketed throughout Europe.
Given the complementary business model and opportunities for close collaboration within the areas of purchasing, product development and sales, the deal is expected to produce significant growth impetus for United Labels AG.
The parties involved in the transaction have agreed not to disclose details of the purchase price. The acquisition is not subject to conditions precedent.