Barcode printing, labelling, and RFID solutions specialist SATO has acquired a 75% stake in Russian label manufacturer Okil for an undisclosed amount.
Headquartered in Saint Petersburg, Okil specialises in value-added product labels for the food and beverage, beauty and healthcare industries, and boasts a large customer base comprising local companies and a variety of major multinational corporations.
With around 15% market share in Russian label market, Okil generated $54.5m in sales in financial year 2013.
Okil will now operate as a subsidiary within the SATO Group.
Commenting on the deal, Okil founder and CEO Denis Okulov said: "We are excited to be moving into 2015 with SATO.
"Being part of the SATO Group will connect Okil to a wider global network, and allow us to deliver greater value to local customers through SATO's diverse range of solutions."
SATO Holdings president and CEO Kaz Matsuyama said: "Okil is recognised as a local market leader and fits perfectly into SATO's strategic roadmap.
"Our mid-term strategy is focused on achieving sustainable growth, while maximising value for customers across the globe. This acquisition allows us to further solidify that strategy, establishing a foothold in Russia and strengthening our network within BRICS markets, which offer tremendous growth opportunity."
SATO currently provides integrated Automatic Identification and Data Collection solutions that leverage barcode, two-dimensional stacked & QR code, colour code, digital watermarking, and UHF/HF/PJM RFID technologies.
Image: SATO Holdings president and CEO Kaz Matsuyama. Photo: courtesy of SATO.