Multi Packaging Solutions International has signed a letter of intent to acquire the business of Paris Art Label Company, Inc. subject to standard completion of diligence steps and Board of Directors’ approval which is expected to be completed on or about March 31, 2017.
 
The acquisition of Paris Art, a manufacturer of labels and shrink sleeve products to the branded consumer marketplace in the U.S., fits perfectly with MPS’s previously announced strategy to expand its capabilities and presence in the label sector globally.  Paris Art has two manufacturing facilities on Long Island, NY, in both Patchogue and Ronkonkoma.
 
Commenting on the acquisition, Marc Shore, CEO of MPS, said “We look forward to the Paris Art team joining the MPS family as we finalize our diligence steps and embark on the integration process. Both companies share a common vision: to provide innovative products of the highest quality to our customers. Acquiring Paris Art is a significant step in enhancing our offering to our customers and achieving our strategic goals.”
 
Ron Tarantino, president and owner of Paris Art, says, “We are excited to announce the pending transaction which will be beneficial to our customers, employees, vendors and associates. We are proud of the high quality and innovative label and shrink print packaging we have designed and delivered to leading consumer and cosmetics customers for over 90 years and believe that MPS will be an excellent home for our customers and employees. MPS is committed to investing additional capital to continue to support the operation. Additionally, I am pleased to say that I, and the Paris Art management team, will be staying on with the new entity going forward.”