SATO, a global leader in barcode printing, labelling, and RFID solutions, announced today that it has taken a majority stake in Okil-Holding, JSC, acquiring approximately 75% of all shares issued. This transaction was completed on December 19, 2014, and Okil will now operate as a subsidiary within the SATO Group.
"Okil is recognized as a local market leader and fits perfectly into SATO's strategic roadmap," said Kaz Matsuyama, President and CEO of SATO Holdings. "Our mid-term strategy is focused on achieving sustainable growth, while maximizing 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."
Russia's label market is expected to grow exponentially. The market has seen double digit growth since the late 2000s, with an average annual growth rate of 13% from the years 2009 to 2013.
Okil is headquartered in Saint Petersburg, Russia and holds the top position in the country's label market with a 15% market share, recording 54.5 million USD in sales in FY2013. The company specializes in value-added product labels for the food and beverage, beauty and healthcare industries, and boasts a large customer base comprised of local companies and a variety of major multinational corporations.
"We are excited to be moving into 2015 with SATO," said Denis Okulov, Okil's founder and CEO. "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."
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