Armor Acquires American Competitor
According to Armor, the strategic acquisition of Iimak positions it as the world leader in thermal transfer consumable technology for barcode label printing and variable data printing on packaging.
Buffalo-based Iimak is Armor’s historic competitor in the United States, with a turnover of around $ 120 Million and 450 employees.
“Iimak is number 1 in thermal transfer consumables for barcode label printing in the Americas while Armor is number 1 in Europe. This is why this acquisition is totally coherent from a strategic point of view. We are perfectly complementary,” said Hubert de Boisredon (Pictured left), president & director general of Armor.
“This acquisition was an exciting adventure, the result of a relationship of trust that was forged between Doug Wagner, the CEO of Iimak and me, and the 8 months of intense negotiations with many twists and turns. I remember the remarkable work accomplished by the Armor teams and those of Iimak, as well as the confidence placed by our banks and our investors, which made it possible to move forward together in a difficult context,” said Boisredon.
“It is a source of pride for all to see a section of French industry thus strengthened as a world leader,” Boisredon added.
Armor’s (formerly Armor Industrial Coding & Printing) traceability business is now called Armor Iimak.
France-based ARMOR considers itself to be a medium-sized company supports with 1,850 employees located in 26 industrial and logistics sites on 4 continents in the world, including 850 in France. Founded in 1922, it has specialized in thermal transfer ribbons, barcode printing, label printing, printer ribbons, laser toners and inkjet cartridges, among others.
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