The private equity majority owners of the trans-Tasman Hexagon labels group are looking to exit the business, and have put the whole group on the market.

The business includes Australian multi-site businesses Hally Labels – which includes the old AC Labels business – and Adhesif Labels, as well as Kiwi Labels, Market Labels, PanPrint and Rapid Labels, all in New Zealand..

Mercury Capital has been the backer behind chairman Tom Sturgessand CEO Greg Howell as they have built the group over the past seven years to be one of the biggest label businesses in the region.

Mercury has now instructed bankers Goldman Sachs to find a buyer for the business, which turns over $300m-$400m and realises some $42m in annual profits.

Hexagon chairman Tom Sturgess along with Howell acquired Rapid Labels in 2012. The next year, Sturgess and Mercury Capital bought Blue Star NZ and Webstar NZ, which included Panprint, a specialist offset wine label manufacturer from Auckland. In 2013, Sturgess acquired Kiwi Labels  in Christchurch from Geon NZ. The label collective of Rapid, Panprint and Kiwi were amalgamated into Hexagon in 2014. It then bought Hally in 2015.

Just last month Hally Labels in Sydney moved out of the old AC Labels building and into a new purpose built site from where it launched its new Hally Express business, promising five day turnaround on labels.

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