Cosmo Films completes acquisition of US based GBC for $17.1 mn

NEW DELHI: Cosmo Films, which makes thermal lamination films and other packaging material, today said it has completed the acquisition of US-based GBC Commercial Print Finishing for about Rs 82 crore.

"GBC Commercial Print Finishing is the thermal lamination division of ACCO Brands and has been bought by Cosmo Films for a consideration of USD 17.1 million," the company said in a statement.

GBC Commercial Print Finishing provides thermal lamination films and other such packaging equipment to their clients in Europe, North America, Japan and other Pacific countries.

"With this acquisition, we will be able to strengthen our footprint in the global market and provide our customers with world class services," Chairman & CEO Cosmo Films Ashok Jaipuria said.