Japanese company Washin Chemical Industry has acquired Folico, the UK’s leading supplier of hot stamping foils for graphic arts applications.
This business is not at risk because of the acquisition. Washin specialises in foils for embellishing plastics as well as paper and board. It also develops and supplies specialty coatings.
Its foils are used on personal care products, cosmetics alongside packaging, books and magazines.
Washin first met Foilco’s directors Paul and Matt Hornby last year, thinking that this was the latest in a series of approaches that they have been able to decline. Their philosophy has been to only become part of a larger company that “shares the same optimism for the future and understands the values of what Foilco has created in the north of England”.
Paul Hornby states: “Washin are exactly that partner. The move creates real opportunity for both businesses.”
Foilco was started in 1987 and retains its headquarters in Manchester. Washin dates back to 1924 and has three factories in Japan, two producing foils and two for paints and coatings.
The opportunity for Foilco is access to a range of products that are new to the business. Washin has 300 grade formulations with more than 3,000 colours available. Washin will also be able to manufacture Foilco’s products, adding stability to the business and underlining its strength for the future. This will be important when working with major fmcs brands across international markets.
Foilco has developed business outside the UK and this will be a bridge for Washin to exploit. It is little known outside of Japan, where it has a major market share, despite the quality of its products.
Executive officer Shin Nakamichi says: “We are delighted to welcome Foilco into the Washin group. Foilco has expertise in international marketing, distribution and sales, Washin has the expertise in manufacturing. A perfect combination.”
The deal was husbanded by Kreston Reeves and Kreston ProWorks in the UK and Japan respectively to manage the multilingual, financial and tax aspects of the deal.
