The acquisition, which was completed on 30 September, is the latest in a long line of deals for Asteria Group and follows its purchase of Nordic Label in Finland in early September. The now 17-company group also owns businesses in the Netherlands, France, Germany, Denmark, Spain, and Estonia, with CS Labels its first UK acquisition.
Founded in 1976, CS Labels has grown from a small flexographic and screen printer into a labels specialist based at a purpose-built 1,858sqm site in Wolverhampton.
Offering both self-adhesive labels and digitally printed pouches, the business also has a smaller second site, also in Wolverhampton, which is mainly used for storage.
All 60 CS Labels staff have been retained as part of the deal with managing director Simon Smith remaining in his position and on the company’s board where he will be joined by operations director Adam James and sales director Paul Humpage.
Smith told Printweek: “For CS Labels this provides for the longer-term future of the business. We are a family-owned company and with me coming up to retirement age and the family members wanting to take value off the table, it’s really a mechanism that ensures CS will continue to prosper and develop, under the new owners but also under the guidance of the existing management team.
“We’re quite excited by it because it gives us access to new markets, and different aspects of the group in terms of their capability.”
He added that by leveraging CS’ bespoke digital capabilities and expertise, the deal would also provide Asteria Group with “a vision of where it can continue to grow in the coming years”.
Smith said there would be very little change to the day-to-day operation of £8m-turnover CS Labels, which has got “exciting growth plans” on the way. The company’s branding and identity will also be retained.
The financial terms of the deal were not disclosed.
The reigning Printweek Awards Label Printer of the Year and 2018 SME of the Year, in late 2019 CS Labels added inkjet production to its offering for the first time after investing in a range of associated kit, including the first Xeikon PX3000 digital inkjet label press in the UK. The business also runs six dry toner presses.
