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Innova eyes CEE packaging, labels consolidation, starts with Drukarnia Embe buyout

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Central Europe-focused private equity player Innova Capital has agreed to back Polish food and drink labels and packaging business Drukarnia Embe Press.

Innovia said it had signed an agreement to acquire 80 per cent of the company’s shares, marking the third deal from its Innova/6 fund, which held a first close in April last year.

The firm had reached €194m for that vehicle at the time of the first close, and was understood to be eyeing up to €325m for an eventual hard cap close.

Embe Press specializes in the manufacturing of labels utilising flexographic printing technology, providing printing services for customers from the beverage and food industry in Poland and abroad.

Innova said it was interested in consolidating the flexible packaging market, including labels in Poland and Central Europe.

The firm is in advanced talks with several leading players on the market of flexible packaging, it added.

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