Compete in the point-of-purchase (POP) and/or packaging products arena? If so, then you better familiarize yourself with Melbourne, Australia-based Orora Ltd. It’s been on an acquisition tear to expand its POP manufacturing footprint in North America, and just announced a definitive agreement to acquire Niles, Ill.-based The Garvey Group and Fullerton, Calif.-based Graphic Tech for a total of $54 million. Once completed, they will further expand the publicly-held Australian company’s footprint in the Midwest and West Coast. According to Orora financial disclosures, these latest acquisitions represent a multiple of 5.8 times last 12 months’ EBITDA. In addition, Orora announced it has agreed to reimburse vendors for recent growth capital investments totaling $5 million. The Garvey Group (which also has locations in Los Angeles and Franklin, Wis.) and Graphic Tech transactions are expected to be completed by the end of March. click Read More below for additional detail
A Minneapolis Pathways Fund grant through the City of Minneapolis was awarded to a new Minnesota collaborative between Printing Industry Midwest (PIM), Avivo, Goodwill Easter-Seals Minnesota (GESMN), and employer partners, to recruit potential employees into the printing industry. The partnership will create a curriculum repository and training resource for employers to hire new employees with up-to-date, required skills needed to help address the workforce shortage in the industry.
According to Kristin Davis, director of education for Printing Industry Midwest (a not-for-profit trade organization representing the Midwest’s leading print service providers) printers have been struggling to find workers for the past five years. Two years ago, PIM became actively engaged with its members to help develop solutions for the workforce shortage.