US-based Multi-Color has completed the acquisition of packaging label provider York Label Group in a deal worth $356m.

Multi-Color said the acquisition aims to strengthen the company’s position in the home and personal care, food, beverage, wine and spirit label markets in North America and Chile.

The acquisition was announced in August 2011 and the combined company is expected to have annual revenues of about $640m, upon closing.

York Label, previously owned by Adhesion Holdings, reported 2010 revenues of $240m, including 100% of their joint venture in Chile which is also being fully acquired as part of the transaction.