Hexagon looking to sell labels empire

Sydney private equity firm Mercury Capital along with its board member business mogul Tom Sturgess are looking to sell Hexagon Holdings, the major label manufacturing group in Australia and New Zealand, with its subsidiaries including Hally Labels and Adhesif Labels.

Investment bank Goldman Sachs has been pitching the $300m-400m company to potential suitors, presenting the company as the leading Australasian labels platform with about $40m in annual earnings. It is unclear if the company will be sold as a whole or if its different entities will be divided up.

Greg Howell, CEO of Hexagon declined to comment when ProPrint reached him this morning.

The Hexagon group employs more than 500 staff in 10 production facilities across Australia and New Zealand. The company says it services 3100 Australasian clients.

[Related: Hally launches Express facility]

Current Hexagon chairman Tom Sturgess along with CEO Howell acquired Rapid Labels in 2012. The next year, Sturgess and Mercury Capital bought Blue Star NZ and Webstar NZ, which included Panprint, a specialist offset wine label manufacturer from Auckland.

In 2013, Sturgess also acquired Kiwi Labels  in Christchurch from Geon NZ. The label collective of Rapid, Panprint and Kiwi were amalgamated into Hexagon in 2014.

 The company bought out Hally Group in 2015, which held Hally Labels in Brisbane, Christchurch and Auckland, AC Labels in Sydney and Mark-It Labels in Christchurch.

Hally Labels launched its new purpose built production facility in Sydney earlier this month.

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