Multi-Color Corporation (MCC) announced the acquisition of Greece-based Stephanos Karydakis IML SA, a leading provider of in-mold label (IML) products. Financial terms of the transaction were not disclosed. The new business will be known as MCC Karydakis.

IML is a high-growth labeling technology in which pre-printed labels are inserted into a packaging mold during a container’s manufacturing process, creating a fully recyclable, cost-effective, durable and consistent product.

“Karydakis has consistently demonstrated to be a pioneering and dynamic company at the forefront of driving advancements in IML solutions, and as a result, we have great conviction in the combined potential of our enlarged Global IML Business Unit,” says MCC CEO Hassan Rmaile. “It will allow us to leverage the strengths of our recent acquisition and existing operations, expand our scale and create synergies that will enable us to innovate and deliver even greater value to our customers.”

Stephanos Karydakis (or Karydakis IML), originally founded in 1967 by Stephanos Karydakis himself, has been at the forefront of the development of the IML market. The company has a strong focus on maintaining high quality standards and bringing out of the box innovations to the industry.

“We are thrilled about the partnership with Karydakis IML after the recent addition of MCC Korsini,” adds Peter Grugeon, MCC’s president Global IML. “It will stimulate fresh innovations and the increased global footprint will enable us to enhance the quality of our service and products for clients. Our team eagerly anticipates embarking on this journey together.”

“This transaction expands our IML expertise, preparing us in the best way for the challenges the packaging industry is facing by collectively bringing new, sustainable and future proof solutions to the market. We truly look forward to start shaping the future together as one enlarged team,” notes Giorgos Karydakis, managing director of MCC Karydakis.