Mundet buys U.S. printed packaging supplier

Source from:  tobaccoreporter.com 10/17/2006

Mundet Inc., a rotogravure printer of cigarette tipping papers in Richmond, Virginia USA, has purchased the assets of International Playing Card and Label Inc, a Tennessee-based supplier of rotogravure printed packaging for cigarette and non-cigarette consumer products. “Mundet is enthusiastic about this acquisition as it represents an extremely positive step in our strategic plan for growth,” says Stephen Young, Mundet's chairman and chief executive officer. “This acquisition allows Mundet to leverage its relationships with major cigarette manufacturers to increase its capacity for producing tipping papers as well as expand its product offerings for non-tipping products within the cigarette industry and beyond.” Following the acquisition, Mundet now has a combined workforce of 330 and sales in excess of $100 million annually.