France’s Alliance Etiquettes has purchased Italian label printer Tonutti Tecniche Grafiche. The transaction will enable it to develop in the wine and Prosecco production regions in northern Italy.
Marking its tenth acquisition since 2015, French premium printing group Alliance Étiquettes has snapped up Tonutti Tecniche Grafiche. The move will notably enable it to develop in the Friuli-Venezia wine region of Italy. Founded in 1945, Tonutti is based in Fagagna and is specialized in labels for wines, food, cosmetics and pharmaceuticals. The company has more than 100 staff and turnover of €21m.
“This operation will revitalize a flagship of the Italian printing industry. Tonutti will now be able to capitalize on strong commercial and industrial support and the increased production capacity that Alliance Etiquettes can provide,” Olivier Laulan, President of Alliance Étiquettes, said in a statement.
Maria Teresa Tonutti, the granddaughter of Tonutti founder Pietro Mario Tonutti, remains at the helm of the company. She will also be named in charge of the Italian market for Alliance Étiquettes and becomes a member of the International Executive Committee alongside Laulan and Erik de Woillemont, CFO and MD of Alliance Etiquettes group.
Tonutti has become a minority shareholder of Alliance Étiquettes. “This operation will allow a significant future development of our family business; we believe in it and our reinvestment is a clear sign of our confidence in this project,” said Tonutti.
Alliance Étiquettes said it is continuing to study acquisition opportunities in both France and abroad, notably in southern Europe. With its 12 production sites, the group has turnover in excess of €120m including its latest acquisition.