Control Print enters UK market with 50.49 pc stake in Codeology Group for £1 mn
Control Print's previous acquisitions include Netherlands-based Markprint BV, where it acquired a 75% stake in 2022 for €1.5 million
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Hyderabad: Control Print Limited, listed on the BSE and NSE, has announced the acquisition of a majority stake in Codeology Group Ltd, a UK-based provider of Print and Apply Systems. The acquisition involves Control Print acquiring 50.49% of the stake in Codeology for £1 million. The plan is to utilize Codeology's Print and Apply systems within the Indian market within the next three months.
This strategic move signifies a significant milestone for Control Print as it aims to enhance technical capabilities and expand its product portfolio. The acquisition will enable Control Print to establish a presence in the UK market, opening up new avenues for growth. Additionally, this acquisition is expected to facilitate the growth and market expansion of Codeology.
Mr. Shiva Kabra, Joint Managing Director of Control Print Limited, expressed excitement about the partnership with Codeology Group Ltd, highlighting its importance in diversifying the company's product offerings. He emphasized that Codeology's established presence in the UK will benefit from Control Print's products, expertise, and support, ultimately aiding in their expansion to newer markets.
Jim Mason, Director of Codeology Group Ltd, also spoke positively about the partnership, noting that it will broaden their vision and enhance their capabilities in offering products. He highlighted the combination of Control Print's product additions and financial strength with Codeology's market coverage, which is expected to significantly boost Codeology's growth rates.
Control Print's previous acquisitions include Netherlands-based Markprint BV, where it acquired a 75% stake in 2022 for €1.5 million through its Dutch Holding Company Control Print B.V. Additionally, the company recently launched QRiousCodes, an innovative QR codes-based track and trace solution utilizing Non-Fungible Tokens (NFTs) technology.
Control Print specializes in manufacturing non-contact and contact type coding and marking machines based on Continuous Inkjet, Thermal Inkjet, Thermal Transfer, and Laser printing technology. The company caters to various industries such as food & beverage, pharmaceutical, FMCG, personal care, pipe & plastic, wire & cable, steel & metal, cement, and plywood.
