Australian anti-counterfeiting solutions provider YPB Group has completed its previously announced acquisition of the US-based printing company Continuous Forms Control (CFC).
Following the acquisition, which was announced on 1 June, YPB will rename the company as YPB Print Solutions.
The acquisition will enable YPB to position itself as a player in the growing market for anticounterfeit packaging and labelling and increase its access to revenue streams while adding to the opportunities for consumer engagement.
According to a recently published research report, the market is currently valued at $228.6bn by 2019 and is expected to grow at a CAGR of 14.1% between 2014 and 2019.
YPB Group executive chairman and CEO John Houston said: "CFC's printing and packaging expertise provides a significant revenue opportunity that complements the YPB strategy to add revenue streams by providing customers more ways to protect and engage around product authentication.
"We've already commenced on executing this strategy with CFC having worked with them for the past six months and will be aggressively pursuing opportunities in the sector."
With its prime focus on the Asia-Pacific region, YPB envisages uptake of its consumer engagement platform, brand reporter in the packaging sector.
The anti-counterfeit clothing and accessories packaging market globally is set to reach $20.5bn by 2020.