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.

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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.