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YORK Label Announces Continued Investment in the Company
Date:8/24/2009

OMAHA, Neb., Aug. 24 /PRNewswire/ -- YORK Label is pleased to announce that its private equity sponsor, Diamond Castle Holdings and the Company's Management Team have successfully acquired $32M of YORK Label senior and subordinated debt and renegotiated favorable new terms and conditions with its banking partners. The transaction was completed August 12th.

As a result of this transaction, overall debt for YORK Label is significantly reduced and cash flow is further improved. The company will continue to invest in technology and manufacturing assets which bring exceptional value to its customers and drive profitable growth for YORK Label.

Some recent examples of new investment by YORK Label include:

  • Acquisition of 3 brand new "state of the art" label printing presses in its flagship York, PA facility.
  • Establishment of pharmaceutical label capacity in the U.S., complementing the existing capability in Canada.
  • Facility investments to drive additional efficiency in its Canadian business.
  • Increased R&D spending to accelerate innovation with particular focus on graphic effects, environmental sustainability and late stage differentiation.

YORK Label President and CEO John McKernan comments, "This equity infusion will allow us to continue investing in new technology, new capacity, new capabilities, productivity improvement and strategic acquisitions. As an organization we are committed to executing our strategy to deliver exceptional quality, service and value to our customers in a sustainable manner."

About YORK Label

Omaha, NE based YORK Label is a leading provider of high quality, innovative labeling and package decoration solutions to global consumer products, wine and spirits, pharmaceutical and, food and beverage companies
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SOURCE YORK Label
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