FINAL LABL Transaction Employee Letter
Dear Employees,
Today is a significant day for all of us at
Multi-Color Corporation. This morning, we announced that Multi-Color Corporation has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity LLC (Platinum Equity) in a transaction valued at
$2.5 billion. The press release we issued is attached for reference.
For those of you unfamiliar with Platinum Equity, it is a leading private
equity firm with a portfolio of approximately 40 operating companies that serve customers around the world. Importantly, Platinum Equity has tremendous respect for Multi-Color Corporation, our talented and dedicated team, and our innovative
portfolio of labeling technologies. Further, they know our industry well, having acquired WS Packaging Group in February 2018. Multi-Color Corporation and WS Packaging Group are highly complementary businesses, and we look forward to joining forces
to leverage our distinct skills.
By combining Multi-Color Corporations capabilities and established position in the industry with Platinum
Equitys financial resources, operational expertise and portfolio company WS Packaging Group, we believe Multi-Color Corporation will be able to pursue new avenues of growth. In addition, we expect this transaction to enhance the value we can
deliver to our customers and partners, as well as provide added growth opportunities for you, our valued employees.
We want to emphasize that
todays announcement is a testament to the progress weve made in our mission to deliver the worlds best label solutions that help our customers build their brands. This transaction is also the culmination of a strategic review
process led by our Board of Directors, with the assistance of financial and legal advisors. Throughout this process, our Board explored opportunities to maximize value for our companys shareholders, while also taking into account the interests
of our employees and customers, among others. We believe this transaction represents a winning proposition for all stakeholders.
In general, becoming a
privately owned company should have no effect on how we conduct our business. Simply put, it is business as usual for Multi-Color Corporation. We are counting on each of you to remain focused on your
day-to-day
responsibilities and providing our customers with the same high-quality service and premium label solutions they have come to expect from us.
We expect the transaction to close by Q3 of calendar year 2019, subject to approval by Multi-Color Corporation shareholders, regulatory approvals and other
customary closing conditions. Upon the completion of the transaction, Multi-Color Corporation will be privately held.
As appropriate, we will keep you
informed on our progress as we move through the transaction process. We recognize you may have questions, which we have done our best to address in the attached FAQ. As always, if you have additional questions, please reach out to your supervisor or
human resources.
As is typical in these situations, you may receive inquiries from external parties, and it is important that we speak with one voice.
Consistent with company policy, if you receive any inquiries from the media, investors or other third parties, please forward them immediately to Sharon Birkett at (513)
345-5311
or
sbirkett@mcclabel.com
, who will respond on Multi-Color Corporations behalf.