CTI GROUP acquires CIGAR RINGS
We wish to inform you that on 23 August 2017, via its Spanish subsidiary OMNIPACK, CTI Holding AG (CTI GROUP) signed an agreement to purchase a 51 per cent interest in Cigar Rings S.R.L. (CIGAR RINGS), which is a leader in the production and sale of cigar bands and other packaging materials for the cigar industry.
CIGAR RINGS has production plants in the Dominican Republic and Nicaragua from where most of the cigar producers in the Caribbean, as well as in the Central and North America regions are supplied.
The founders and current managers of CIGAR RINGS, Messrs Albert Montserrat and Miquel Pascual, will continue to administer both plants in order to secure the level of service and quality that customers have come to expect.
Both CIGAR RINGS and OMNIPACK are major suppliers of packaging material for the cigar and the cigarette industry. Together, they will continue to serve the most important cigar industry customers. For this reason, OMNIPACK will look after the integration of CIGAR RINGS into the CTI GROUP.
As a result of this acquisition, the CTI GROUP has strengthened its operations in Latin America. CIGAR RINGS Dominican Republic and CIGAR RINGS Nicaragua will also receive full support from the CTI GROUP subsidiaries in Argentina (ADHEPEL) and Colombia (VIAPPIANI DE COLOMBIA) which are leading suppliers to the wine & spirits, cosmetics, personal care and speciality labels industry.
We would like to offer a warm welcome to CIGAR RINGS in general and to Mr. Montserrat and Mr. Pascual in particular. We look forward to growing stronger together and in cooperation with our customers, suppliers and partners.
The CTI GROUP is a family owned, international printing specialist, which serves the fast moving consumer goods industry with innovative and effective label and packaging solutions. The CTI GROUP consists of six leading companies in Austria, Spain, Italy, Argentina, Colombia, Nicaragua and the Dominican Republic, which work together closely and exchange information regarding technologies, materials and innovations.
Its product portfolio ranges from self-adhesive labels, flexible packaging and in-mould labels to premium cardboard packaging, which also includes product group related specialities.
In its field, the CTI GROUP numbers amongst the European and Latin American market leaders and supplies both top companies in local markets and multinational corporations.