Multi-Color buys Italian wine label company

Multi-Color Corp. has acquired Italian wine label maker La Cromografic.

In a press release, the company said it paid about 8.3 million Euro for the company, or about $11.8 million.

La Cromografic is located in Florence, Italy, and specializes in wine labels for Italian premium wines.

"The acquisition perfectly complements our existing Italian business, Guidotti Centrostampa, by providing short run technology solutions common to our wine label businesses in the USA, France, Australia and South Africa," said CEO Nigel Vinecombe.

Cincinnati-based Multi-Color (Nasdaq: LABL) is a global supplier of labels for consumer packaged goods, wine and spirits, food and beverages, and specialty consumer products.