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Multi-Color exploring expansion into SE Asia

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By: Greg Hrinya

Editor, Label & Narrow Web

Multi-Color has expressed interest in  Super Enterprise Holdings Bhd, which would allow the company to expand into Southeast Asia. Super Enterprise, a self-adhesive label manufacturer in Malaysia, has received a “non-binding indication of interest” from Multi-Color to explore a potential transaction involving the shares of Super Enterprise.

“MCC requires, among others, a due diligence to be satisfactorily completed before it can proceed to the stage of making a definitive offer involving the shares of Super Enterprise, if applicable. The board, after deliberation, has agreed for MCC to undertake a due diligence exercise,” Super Enterprise said in a statement to Bursa Malaysia.

Super Enterprise says MCC had indicated the scope of the due diligence would include, among others, the operations of Super Enterprise and its subsidiaries, customers, suppliers and financials of the group.

Super Enterprise, however, cautioned that the interest was exploratory. “There is no assurance that a definite offer from MCC will materialize. The board notes the recent increase in its share price and wishes to remind shareholders to trade with caution,” a company statement said.

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