Hexagon up for sale

Hexagon up for sale
New Zealand and Australian labels empire looking for buyers

Hexagon Holdings, is up for sale, with Australian private equity firm Mercury Capital and its board member and business mogul Tom Sturgess looking to sell the major label manufacturing group in Australia and New Zealand.

Among its subsidiaries are Hally Labels and Adhesif Labels.

Investment bank Goldman Sachs has been pitching the $300m-400m company to potential suitors, presenting the company as the leading Australasian labels platform with about $40m in annual earnings. It is unclear if the company will be sold as a whole or if its different entities will be divided up.

Greg Howell, CEO of Hexagon declined to comment.

The Hexagon group employs more than 500 staff in 10 production facilities across Australia and New Zealand. The company says it services 3100 Australasian clients.

Current Hexagon chairman Tom Sturgess along with CEO Howell acquired Rapid Labels in 2012. The next year, Sturgess and Mercury Capital bought Blue Star NZ and Webstar NZ, which included Panprint, a specialist offset wine label manufacturer from Auckland.

In 2013, Sturgess also acquired Kiwi Labels  in Christchurch from Geon NZ. The label collective of Rapid, Panprint and Kiwi were amalgamated into Hexagon in 2014.

 The company bought out Hally Group in 2015, which held Hally Labels in Brisbane, Christchurch and Auckland, AC Labels in Sydney and Mark-It Labels in Christchurch.

Hally Labels launched its new purpose built production facility in Sydney earlier this month.

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