Esko-Graphics changing hands for packaging push

Current shareholder Kirkbi is transferring ownership and all the packaging activities of Esko-Graphics to Axcel, a private equity investment company, in a deal expected to close by the end of September. Kirkbi will retain ownership of Esko-Graphics' small-format CTP activities, with local distribution to the commercial printing sector continuing through Currie.

Jean-Pierre De Moor, vice president of Esko-Graphics in the Asia Pacific region, claims there will be no change to Esko-Graphics' operations across Australia and New Zealand. “Esko-Graphics in Australia and New Zealand [direct representation] is already 100 per cent focussed on the packaging side of the company's operations, so the developments will not have any impact.”

Kim Graven-Nielsen, president and CEO of Esko-Graphics, claims a private equity investment business offers the best platform for further development. “Axcel has the resources and the expertise to continue Esko-Graphics' growth and expansion,” he says.

Graven-Nielsen has also took the opportunity to announce that he is stepping down as CEO of Esko-Graphics. “With this transfer of ownership, my task of guiding Esko-Graphics through a difficult transformation phase and laying the foundation for its future has come to an end,” he claimed. Current CFO Carsten Knudsen will be the successor following the closing of the deal.

Esko-Graphics has its headquarters in Belgium and employs around 700 people worldwide, with additional facilities located in Denmark, Germany, Norway, the United States and the Czech Republic. Along with its representation across Australia and New Zealand, the company has local sales and support organizations throughout Europe, the US and the rest of the Asia Pacific region.